Family Wealth and Estate Planning Articles
Consequences of Jointly Owned Assets with Children
Posted by D’Marie Murray on October 26, 2023
Avoid these six consequences of jointly owned assets with children.
How the Spousal Portability Election Minimizes Taxes
Posted by Robert Ingrasci on August 31, 2023
Spousal portability is not automatic, it is necessary for the deceased spouse’s executor to make a portability election along with filing an estate tax return.
Naming a Guardian for Minor Children
Posted by Sarah Hopkins on June 09, 2023
The importance of selecting a guardian for minor children and the considerations that should be made when selecting a family member or close friend.
Five Steps to Implementing Your Estate Plan Without Challenges
Posted by Amanda Wojtkowski on May 09, 2023
Follow these five steps to help avoid challenges to your estate plan.
Including Fire Arms in Your Estate Plan
Posted by Robert Ingrasci on May 09, 2023
When including fire arms as part of your estate plan consider a gun trust and remember you need to comply with all federal, state, and local rules.
Rules for Inherited Property under Fair Market Value
Posted by Michē Needham on May 02, 2023
The fair marketing values rules can be complicated for inherited property and should not be overlooked.
Individual, Estate and Gift Taxes under the 2024 Federal Budget
Posted by Robert Ingrasci on April 12, 2023
High-net-worth individuals continue to be the focus of many of the administration’s proposals in its fiscal year 2024 budget. The proposals, many of which look similar to prior budget proposals, encompass raising individual tax rates, raising capital gain and qualified dividend rates, taxing exchanges between grantors and grantor trusts, imposing restrictions on grantor retained annuity trusts and taxing dispositions of appreciated property at death.
Why Filing a Gift Tax Return May Be Necessary
Posted by Amanda Ornowski on March 01, 2023
Whether you are liable for any gift tax, you may still need to file an IRS Gift tax Return.
Avoid Retirement Plan Early Withdrawal Penalties
Posted by Robert Ingrasci on February 16, 2023
The standard rule for retirement plan distribution is the penalty for withdrawing from your retirement account prior to age 59 ½. There are actions you can take to minimize the penalty but the rules are strict.
The Ins and Outs of Joint Ownership in an Estate Plan
Posted by Robert Ingrasci on February 15, 2023
Understand about the upside and downsides of joint ownership in your estate plan.