In an effort to keep taxpayers from transferring wealth from one generation to the next tax-free, there are specific limits to the amount of gifts one may give to any one person each year.
The term ‘estate planning’ conjures specific ideas about leaving assets to heirs, fighting over Mom’s jewelry and lengthy entanglements with the probate court.
Unless you’re a member of the Addams family, thinking about death probably isn’t your favorite afternoon activity. However, not thinking about it can cause even more pain when death ultimately does come knocking.
There is a general consensus that having a last will and testament is important. However, few people realize the necessity of having medical documents in place.
Setting up a trust is one way to transfer wealth to a loved one and create financial stability for them.
With his Farewell Yellow Brick Road tour, Elton John confirmed his latest plans for retirement. The final show of the tour in July 2023 will be his last. However, deja vu suggests this might not be the last we see of Elton.
Dying intestate can have unintended consequences for pretty much every family type. However, it is especially painful if there are unmarried partners or stepchildren, who are left out under the law in almost every scenario.
There are times when it makes sense to leave more to one child than another.
Different people have different needs, and for most people, starting with basic legal documents, such as a will and power of attorney, are a great place to start and can make a big difference.
Estate planning is nearly always worthwhile but can be extra important when you have stepchildren.
