Family Wealth and Estate Planning Articles
Ensuring Compliance in Conservation Easements: IRS Oversight and Implications
Posted by Cheryl A. Jankowski on May 09, 2024
Conservation easements are a useful way for taxpayers to lower their income and estate taxes while keeping ownership and use of their properties. They have been widely used in estate planning for a long time.
Optimizing Your Children’s Inheritance: The Case for a Unified Trust
Posted by Isabella Newman on May 02, 2024
Establishing trusts for your children is an important strategy for ensuring their financial security.
Including Mental Health Directives in Your Estate Plan
Posted by D’Marie Kleeman on April 25, 2024
Many make considerations for potential physical incapacitation in their estate plan, but it's equally important to address any mental health illnesses with advance directives.
Beware of IRD Issues When Receiving an Inheritance
Posted by Cheryl A. Jankowski on April 23, 2024
IRD assets pose unique challenges in estate planning; we can assess your situation, identify IRD assets, and devise appropriate strategies to manage the tax implications.
Exploring Essential Estate Planning Terminology
Posted by Cheryl A. Jankowski on April 11, 2024
Estate planning involves some specific terms that may not be easy to understand for beginners. While some concepts like wills, trusts, and executors might be familiar, other terms might need more explanation. To help with understanding, here's a list of important terms that are frequently used in estate planning activities.
The Significance of a Living Will in Estate Planning
Posted by D’Marie Kleeman on April 04, 2024
A living will is an essential part of your estate planning strategy, providing peace of mind for you and your family in case of unexpected situations. However, many people neglect the need to create this important document, despite its significance.
Ensuring Your Estate Plan Covers the GST Tax
Posted by Cheryl A. Jankowski on March 21, 2024
Even though the high GST tax exemption now lessens its effect on many families, it's still wise to prepare for this tax. After 2025, unless Congress intervenes, the exemption will drop significantly.
Exploring Funding Mechanisms for Long-Term Care Expenses
Posted by Robert Ingrasci on March 14, 2024
To safeguard your assets earmarked for heirs, it's crucial to have a funding plan in place for long-term care insurance and expenses.
The Hidden Tax on Social Security Benefits
Posted by D’Marie Kleeman on March 12, 2024
It is important to know the nuances of how Social Security benefits are taxed, as many people wrongly think that these benefits are completely free from federal income tax.
Marrying Estate and Family Business Succession Planning
Posted by Cheryl A. Jankowski on February 22, 2024
Ensure your family's future by properly planning the succession of your closely held business. Separate ownership and management to secure the business’s legacy. Transfer assets early to minimize estate tax liability.