Is a Grantor Retained Annuity Trust Right For You?
Grantor Retained Annuity Trusts (GRATs) are a mechanism by which wealthier individuals and couples can transfer appreciating assets to their heirs and minimize gift or estate taxes.
What You Should Consider Before Scattering a Loved One’s Ashes
Saying goodbye to a loved one is heartbreaking. Making final arrangements can be overwhelming, and knowing what you are allowed to do to fulfill your loved one’s wishes is important — but it can also be confusing.
How Changes to Portability of the Estate Tax Exemption May Impact You
The Internal Revenue Service has issued new guidance extending the time that executors have to elect portability.
Some Social Security Beneficiaries Can Get Retroactive Payments — But at a Cost
If you need a lot of cash on hand upon retirement, Social Security offers a lump-sum payment option that’s worth six months of retroactive benefits. However, it comes at a cost. It is important to understand the details before agreeing to the payment.
Supreme Court Rules State Medicaid Programs Can Recoup a Larger Share of Injury Settlements
In a case involving a teen who was catastrophically injured, the U.S. Supreme Court has ruled that state Medicaid programs may be repaid from settlement funds for future medical expenses.
Three Estate Planning Options for Your Art Collection
Collecting art or other valuable items can be a passion for many people. Once you have accumulated a sizable collection, what do you want to happen to it after you pass away?
How to Deal with an Estranged Child in Your Estate Plan
Unfortunately, not all families get along. If you are having problems with one of your children, you may not want them to benefit from your estate. There are several strategies for dealing with an estranged child in your estate plan.
Dynasty Trusts: A Tax-Efficient Way to Pass Wealth Down Through the Generations
If you want to pass money to future generations without having it subject to gift and estate taxes, then a dynasty trust may be right for you.
What to Do If You Want to Leave Your Children Unequal Inheritances
Parents usually want to leave their children equal shares of their estate, but equal isn’t always fair. If you plan to provide more (or less) for one child in your estate plan, preparation is important.
Requiring Adult Children to Pay for Aging Parents’ Care
Did you know you could be responsible for your parents’ unpaid bills? More than half of all states currently have laws making adult children financially responsible for their parents. However, these laws are rarely enforced.