Family Wealth and Estate Planning Articles
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.