Estate Planning Helps A dream without a plan is simply a wish. Estate planning is not just about death and taxes — it puts you in the driver’s seat of your financial life, allowing you to set achievable goals. It is a great opportunity to focus on the legacy you want to leave behind for…
Early Inheritance If you’re thinking about giving your children their inheritance early, you’re not alone. Studies suggest that these days, nearly two-thirds of people over the age of 50 would rather pass their assets to the children early than make them wait until the will is read. It can be especially satisfying to fund our…
The Tax-Free Way Each year on January 1st, everyone receives what can be thought of as yearly coupons for tax-free gifts. There Are Several Different Ways That You Can Redeem Those Coupons: Annual exclusion gifts. These gifts are transfers of money or property that do not exceed the annual gift tax exclusion. These gifts can…
Why You Should Think About It When Estate Planning Debt After Death – If you carry debt, do not assume that your death or incapacity will make it automatically disappear. On the contrary, the money you owe may eat away at the assets you were planning to leave to your heirs or — if you…
How Your Health Savings Account (HSA) Works with Your Estate Plan? If you’re enrolled in a qualified high-deductible health plan (HDHP), you must consider how your health savings account (HSA) fits into your estate plan—especially to make sure that any hard-earned money left in your HSA when you die goes where you want it. What…
Tax and Estate Planning Season Tax prep activity is the perfect opportunity to get your estate plan in order and kill two birds with the proverbial stone “Tax and Estate Planning Season”. Why? Because as you run down your list of “tax prep” questions, you will find that your answers could also impact your estate…
My Estate Plan and My Vacation Property Does My Vacation Property Need To Be Included In My Estate Plan? Yes! Make sure to include it in your estate plan whether you possess a second home, timeshare, investment property, or any other asset, regardless of where you reside. If you neglect to include these in your…
Estate Planning Letter of Intent Estate planning protects your family’s financial future. Estate planning may take care of loved ones as well as finances. The letter of intent is an often-overlooked estate planning tool. An estate plan’s letter of intent instructs executors on how to manage assets and care for family and loved ones. Letters…
Estate Planning for Parents If you belong to the “sandwich generation,” which includes people who are concurrently caring for their parents and children, you should find out if they have an estate plan. Having an estate plan, regardless of how late in life it is formed, is vital, even though it is still your parent’s…
Estate Plan Changes If they make an estate plan, many people do it when they start a family. Estate Plan Changes – while creating an estate plan is a good idea; many people fail to update it despite major life events. This can put your money and assets in costly probate or the wrong hands.…