The documents may still be valid but if they are stale or outdated, you may spend significant money trying to use them down the road. An out-of-date estate plan may not achieve your wishes, or may not be consistent with today’s tax laws.
These spousal trusts are garnering attention as estate and gift tax exemptions are poised for overhaul.
Before you decide to put your home in an irrevocable trust, it is important to have a basic understanding of what you are doing and why.
Wealthy families could face combined tax rates of as much as 61% on inherited wealth under President Joe Biden’s tax plan, according to a recent analysis.
Aging parents grow stubborn, and researchers are uncovering the reasons why.
Looking for an extra incentive to spend some quality time with your grandchildren? Try telling their parents that it could extend your life.
No matter what line of work you are in, estate planning has facets that apply to everyone, and it comes down to documenting wishes and avoiding probate and unnecessary taxes. Too many people put it off, but, in general, the sooner you do it, the better.
