Estate Planning for Your Digital Legacy
Arranging what happens to your digital assets and information when you pass away has become an increasingly essential component of comprehensive estate planning.
Arranging what happens to your digital assets and information when you pass away has become an increasingly essential component of comprehensive estate planning.
Are you a taxpayer who has purchased long-term care insurance? Take note of your policy details and your premium amount, as you may be able to deduct the cost – or at least part of it – from your 2023 income.
Estate planning entails preparing your affairs for the future. While older adults might give more thought to estate planning, it is an essential tool at any age.
The basic idea behind a QPRT is to transfer the equity in a qualified residence out of a person’s estate and to their heirs while reaping lower transfer tax consequences.
Assisted living facilities and nursing homes are long-term housing and care options for older adults. Although people sometimes use the terms assisted living and nursing home synonymously, they are distinct.
If you are preparing a will, it is important to choose an executor you can trust, who is reliable, and who will take their role seriously. As part of your decision-making, you may also consider the things they would be prohibited from doing.
Although every state’s laws and forms vary, most power of attorney forms specify that the agency relationship created by a power of attorney ends upon a person’s death.
The Senate and House have cleared the passage of a year-end $1.7 trillion appropriations bill that will benefit older adults on a number of fronts.
If you are considering engaging in estate planning or you may be inheriting assets, it is important to understand what the step-up in basis is and how it may affect you.