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.
Keeping Your Emergency Contacts and Medical Information Updated for First Responders
If medical personnel are able to access your medical history during an emergency, it could mean the difference between life and death.
The Ins and Outs of Estate Sales
Following the death of a family member, you may find yourself needing to sort through many possessions accumulated over the deceased’s lifetime. An estate sale is one way to distribute, quickly and efficiently, those items that you do not want or need.
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.
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.
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.