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How Much can You Inherit and Not Pay Taxes?

Unless you spend your winters in Aspen and your summers in the Hamptons, you probably don’t have to worry about paying federal estate taxes on an inheritance. In 2021, the federal estate tax doesn’t kick in unless an estate exceeds $11.7 million.

Posted on: November 22, 2021

Before They’re Gone—Estate Planning Strategies

If you have not already been inundated with invitations to webinars, articles and newsletters regarding the estate planning you should consider doing before new legislation passes, you undoubtedly will receive these over the next few months.

Posted on: November 19, 2021

Should You Put Your House in Your Child’s Name?

In a nutshell, it might be better for your mom to put the home in a living trust that allows her to control the home while she is alive and allows you to inherit the home through the trust upon her death.

Posted on: November 18, 2021

How Do I Align Retirement Planning with Planning for a Special Needs Child?

As parents of children with special needs age, they should revisit the decisions they made—sometimes many years ago—regarding guardianship, beneficiarie, and other aspects of their child’s care.

Posted on: November 17, 2021

How Does Power of Attorney Work?

For many families with elderly people or engaged in estate planning, power of attorney is essential, especially if the elderly person’s mental abilities are compromised. Having someone who can take care of legal and financial matters can make this part of life far easier. However, power of attorney is a sweeping grant of authority.

Posted on: November 16, 2021

What If Account has No Named Beneficiary?

My wife died and left a bank account with no beneficiary. The bank tells me I have to go through probate. I inherited everything else. What do I have to do?

Posted on: November 15, 2021

Talk to Parents about Estate Planning without Making It Awkward

Discussing estate planning with your parents is a conversation that can be difficult to have. You might not want to think about the day they are no longer here, or even consider that they might experience a decline in health that severely limits their ability to think clearly or communicate with you.

Posted on: November 12, 2021

What Do I Need in My Estate Plan?

An effective estate plan uses a collection of documents and teamwork to protect one’s assets and personal property. An effective estate plan also explains and carries intentions of how to pass control down to successors in the event of your absence.

Posted on: November 11, 2021

Why Do People Give to Charities at End of Year?

With a draft bill from the House Ways and Means Committee on the table, all signs suggest that higher income taxes could be right around the corner. How they will affect charitable giving remains to be seen.

Posted on: November 10, 2021

Do You Need a Revocable or Irrevocable Trust?

On the surface, the difference between revocable and irrevocable trusts couldn’t be any more straightforward. You can change your revocable trust whenever and however you choose. You can’t change your irrevocable trust at all.

Posted on: November 10, 2021