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Can a Charity Be a Beneficiary of an Estate?

Ever since a group of philanthropists created the Giving Pledge in 2010, taxpayers have expressed greater interest in potential estate planning strategies that would allow them to leave a significant portion of their assets to charity upon their death.

Posted on: March 29, 2021

Is it Better to Have a Living Will or a Living Trust?

Whether you need a living will vs. living trust as part of your estate plan depends on your overall financial situation and goals. However, it’s helpful to consider the advantages of including one or both in your planning efforts.

Posted on: March 26, 2021

Tax Planning Strategies for 2021

Although uncertainty surrounding the likelihood of tax reform continues for the moment, there are still several wealth transfer strategies that can be considered by those wanting to make gifts.

Posted on: March 25, 2021

If My Estate Is the Beneficiary of My IRA, How Is It Taxed?

When an estate is named beneficiary of an IRA, what is the method of distributing it to one individual in the most tax-effective way?

Posted on: March 24, 2021

Estate Planning and a Second Marriage

Married people in second marriages with prior children often have to balance the future well-being of their spouse with that of their own children.

Posted on: March 23, 2021

Preparing for an Estate Planning Meeting

While most initial meetings with an estate planning attorney will result in some questions you likely have never considered, there are many ways in which you can prepare for a thoughtful and productive estate planning conference that will result in a better understanding of your goals and more efficient use of time with your attorney.

Posted on: March 22, 2021

How Do I Talk to the Children about My Estate Planning?

Many baby boomers may hesitate to discuss money with their children, but the reality is that a massive amount of wealth will be transferred in the next couple of decades.

Posted on: March 19, 2021

When Do I File a Tax Return for an Estate?

My 91-year-old mother-in-law died on Dec. 13, 2020. There was no will, so we are currently working our way through the probate process. Her income was less than $20,000 a year from Social Security and we can’t find any tax returns she filed. Was she required to file?

Posted on: March 18, 2021

Should Inherited Money Be Equally Split Between Family Members

When you’re planning to divide your estate unequally, explain the reasons to your heirs, and remember: They might be hurt anyway.

Posted on: March 17, 2021

What Is a SLAT in Estate Planning?

If you have been thinking about making large gifts to take advantage of the current $11,700,000 lifetime federal estate tax exemption, you have probably been contemplating a spousal lifetime access trust, commonly known as a SLAT.

Posted on: March 16, 2021