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Family Wealth and Estate Planning Articles

 

Is Your Estate Plan Aging as Gracefully as You Are?

Is Your Estate Plan Aging as Gracefully as You Are?

Posted by D’Marie Murray on February 22, 2021

An estate plan isn't a static document. You need to review and revise your plan over time because what's important when you're a young adult just starting out likely will be different from what's important when you're retired.

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If You Own Foreign Assets, Include Them in Your Estate Plan

If You Own Foreign Assets, Include Them in Your Estate Plan

Posted by Robert Ingrasci on January 06, 2021

Do you own real estate or other assets outside the United States? If so, it's critical to address them in your estate plan.

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When It Comes to Trusts, Silence May Be Golden

When It Comes to Trusts, Silence May Be Golden

Posted by Robert Ingrasci on December 15, 2020

“Silent” trusts limit the amount of information shared with beneficiaries. In some cases, they may even keep the existence of the trust a secret. This article explains how a silent trust can reduce disincentives for heirs to act irresponsibly or neglect their education or careers, but there are also several drawbacks to using this estate planning tool.

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Year-End Estate Planning Tips for 2020

Year-End Estate Planning Tips for 2020

Posted by Cheryl A. Jankowski on December 04, 2020

As year end approaches, it's time to review your estate plan, even if you're not currently exposed to the federal estate tax. Depending on your situation, updates may be needed to your beneficiary designations, real property ownership documents, wills, trusts, and more. Here's important information to help you take advantage of today's favorable federal estate and gift tax regime — while it lasts.

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Make Education Part of Your Estate Plan

Make Education Part of Your Estate Plan

Posted by D’Marie Murray on November 05, 2020

For many people, one important estate planning goal is to leave a legacy for their children, grandchildren, and future generations. One way to do so — and realize tax benefits — is to establish a family education trust that invests in one or more 529 plans.

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Ten Potential Mistakes to Avoid in Estate Planning

Ten Potential Mistakes to Avoid in Estate Planning

Posted by Robert Ingrasci on September 28, 2020

Sometimes people attempt to make an estate plan without consulting legal and financial professionals, but everyone is different and a boilerplate form isn't sufficient. Here is a list of 10 potential mistakes in estate planning that you can help avoid with professional counseling.

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A SLAT Can Reduce Risk If You’re Giving Away Substantial Wealth

A SLAT Can Reduce Risk If You’re Giving Away Substantial Wealth

Posted by Cheryl A. Jankowski on August 10, 2020

Today's increased gift and estate tax exemptions enable wealthy families to give away substantial wealth gift-tax-free, but they must act before the exemption amounts revert in 2026 to previous levels. 

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How to Avoid Penalties on Early Retirement Account Withdrawals

How to Avoid Penalties on Early Retirement Account Withdrawals

Posted by D’Marie Murray on August 10, 2020

The COVID-19 pandemic has resulted in many people borrowing from their companies' qualified retirement plans. If economic fallout from the pandemic causes you to default on one of these loans, it will cause negative tax and retirement-saving consequences.

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Collect Art? Make Sure Your Estate Plan Addresses It

Collect Art? Make Sure Your Estate Plan Addresses It

Posted by Robert Ingrasci on July 16, 2020

For art collectors, it's critical that their estate plans address their collections separately from other types of assets. That's because there are special appraisal and documentation rules for art. Collectors also need to decide whether they want to sell, bequest or donate their collection. Donating can be an effective way to reduce capital gains and estate taxes.

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Make a Lasting Charitable Gift with a CRT

Make a Lasting Charitable Gift with a CRT

Posted by Cheryl A. Jankowski on May 05, 2020

The COVID-19 pandemic may have you thinking about how you can help those whose health and financial security has been imperiled by the virus. With a charitable remainder trust (CRT) you may be able to support a favorite nonprofit and also enjoy lifetime income and current tax benefits. Learn more about how CRT might fit into your estate plan.

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