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Family Wealth and Estate Planning Articles

 

Income Tax Planning in Light of Increased Federal Estate Tax Exemption

Income Tax Planning in Light of Increased Federal Estate Tax Exemption

Posted by Cheryl A. Jankowski on September 22, 2022

In light of the changes to the federal estate tax thresholds, income tax planning is now even more important.  Also, consider that state tax laws including New York can impact your short and long term goals.

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Financial Protections for Family Members with Disabilities

Financial Protections for Family Members with Disabilities

Posted by Amanda Ornowski on September 09, 2022

Estate and financial planning can be tricky if you have a disabled family member.  ABLE accounts and special needs trusts (SNT’s) can help provide for their needs without jeopardizing federal government benefits. Learn how they work here:

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Five Important Tax Decisions to Make When Divorcing

Five Important Tax Decisions to Make When Divorcing

Posted by Benjamin Schuver on June 22, 2022

If you’re getting a divorce, you know it can be a difficult process. You don’t want to make it worse by making decisions that will cost you more in taxes. Here are five issues to consider.

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Create an Estate Plan for Your College Bound Student

Create an Estate Plan for Your College Bound Student

Posted by Isabella Newman on June 17, 2022

If you’re preparing to send your child to college this fall, now is the right time to create a basic estate plan with the help of an advisor.

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Ins and Outs of a Charitable Lead Trust

Ins and Outs of a Charitable Lead Trust

Posted by D’Marie Murray on May 27, 2022

A charitable lead trust provides a regular income stream to one or more charities during the trust term, after which the remaining assets pass to your heirs or other noncharitable beneficiaries.

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Use a Living Will to Carry out Final Medical Decisions

Use a Living Will to Carry out Final Medical Decisions

Posted by Robert Ingrasci on May 20, 2022

The terms “last will and testament” and “living will” may sound similar, but, in fact, they’re not at all similar. The latter is an important estate planning document that details your medical wishes should you become incapacitated.

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Biden 2023 Budget Calls For Corporate, High-Net-Worth Individuals Tax Hikes

Biden 2023 Budget Calls For Corporate, High-Net-Worth Individuals Tax Hikes

Posted by Cheryl A. Jankowski on May 05, 2022

The Biden administration’s fiscal year 2023 budget blueprint, released on March 28, consists of a mix of familiar proposals and brand-new initiatives that reflect the President’s policy objectives.

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Include Health Care Directives in Your Estate Plan

Include Health Care Directives in Your Estate Plan

Posted by D’Marie Murray on April 22, 2022

Without an advance health care directive, your estate plan is incomplete.

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U.S. Residency and Estate Planning

U.S. Residency and Estate Planning

Posted by Amanda Mooney on April 08, 2022

Estate tax planning can get complicated if you or your spouse is a nonresident alien.

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Leverage the Annual Gift Tax Exclusion with A Crummey Trust

Leverage the Annual Gift Tax Exclusion with A Crummey Trust

Posted by D’Marie Murray on March 25, 2022

A Crummey trust allows you to leverage the annual gift tax exclusion to transfer substantial amounts of wealth to your family tax free, but pitfalls to this strategy exist.

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