Financial Advice for Retirement, Social Security, IRAs and Estate Planning

Estate Planning Basics

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estate planning

How to Create an Estate Planning Strategy in 8 Steps – Part 2

September 15, 2017

Last week, we began our 8-point Estate Planning Checklist, including how to handle your will, and avoiding probate. Today we’ll complete the checklist, starting with… Powers of attorney. You need these documents before you have a will, because you’re likely to become disabled or need help managing affairs before you pass away. There are two […]

Estate Planning

Should You Put Your Estate Planning Strategy On Hold? (8-Point Checklist)

September 8, 2017

Tax reform proposals are slowly being developed in Congress, including changes in the estate tax. People are asking, “Should I delay my estate planning until the new law is clear?” We’ve been down this road before, and the answer is: You shouldn’t delay. Congress is looking at changing only the federal estate and gift taxes, […]

Estate Planning Tax Tricks, Traps for Married Couples

April 3, 2016

Too many married couples are making a big mistake. They believe current estate tax law exempts them from having to plan or consider estate taxes in their plans. That misunderstanding could lead to problems. While the estate tax law enacted in early 2013 has many benefits, you need to know how to maximize them. Two […]

How to Build the Complete Estate Planning Strategy

April 3, 2016

Many people think they have estate plans but really don’t. I’m not talking about the many people who haven’t done any planning and don’t have even a basic will. I’m talking about people who have taken action on their estate plans and yet have plans that are woefully incomplete. There is more to a complete […]

Estate Planning

Estate Plan Building Blocks

January 1, 2009

Many people have procrastinated about Estate Planning. They delayed making or updating plans because of uncertainty over the tax law or turmoil in asset values. People naturally procrastinate because estate planning is complicated and full of unfamiliar terms and concepts. Most of you will have or at least consider the same basic tools and strategies […]

Estate Planning

When You Should File Gift Tax Returns

January 1, 2009

Too often people neglect to file gift tax returns. A smart plan is to file a gift tax return even when not required to. In some situations that provides substantial insurance. Gifts above the annual exemption amount ($13,000 for 2009) potentially are taxable and must be reported on Form 709. The gift might not be […]

gifts

How to Multiply the Benefits of Gifts

January 1, 2009

A key estate planing tool for almost every family is more valuable as of Jan. 1, 2009. The annual gift tax exclusion is increased to $13,000, up from $12,000. Each person can make gifts of up to $13,000 annually to any other person without incurring gift taxes or counting against the lifetime annual gift credit […]

Asset Declines are a Planning Opportunity

December 1, 2008

There is at least one silver lining in today’s dark cloud – Estate Planning opportunities are being created. Today we have a rare opportunity to transfer wealth to younger generations while incurring very low gift and estate taxes. Falling market prices and low interest rates are a great combination for estate planners. If the price […]

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