Clients can make five years’ worth of gifts to a 529 education plan for a child or grandchild, claiming a federal gift tax exclusion for the full amount. There are at least four reasons clients might want to do this:
“Many couples don’t foresee the possible financial hit if one partner dies, including the tax crunch sometimes called the ‘widow’s tax’,” Jeff Stimpson writes in Financial Advisor, referring to potential tax and cash flow problems faced by women and men after the loss...
The general principles of estate planning are the same in every U.S. state, but each state has different tax laws and different regulations affecting wills and powers of attorney.
Wealth transfer is another name for giving away money, but before choosing recipients or heirs, consider your own present and future needs first.
That sounds like something your mother might say, right? And how often have you wished that you’d followed mother’s good advice? Nobody really wants to think in advance about accidents or illness. But if no advance planning has been done, and if an elderly parent has...
Veterans have many choices to sort through and many decisions to make on behalf of themselves, their spouses and children. Decisions must be made about life insurance, retirement benefits, and investments.
You may never of thought of auto insurance as part of your estate plan, but you ought to…
Larry King’s holographic will serves as a reminder of the importance of periodically reviewing one’s estate plan, adapting to changed circumstances..
Probate is the legal process for authenticating a deceased person's will, reviewing their assets, paying their outstanding debts and taxes, and distributing what remains to their inheritors. After an asset-holder dies, the court will appoint a valid will's executor to...
1. My family and I don’t own much. Can’t we put off planning until we can afford it? You shouldn’t. It is crucial to give legal authority to a person of your choice, to care for your children if anything should happen to you. You don’t want your children to become...
