Only two things are certain in life — death and taxes. However, the proper planning can help your loved ones experience fewer tax headaches due to the Basis Step Up on Death. Starting Point When talking about the new basis at death rule, the first thing is to understand is basis. A basis is applied to […]
Just like birds, cooler weather drives many people to head south. If this is in your plan this coming autumn or winter, there are a few things to consider before leaving. Not only do you need to ensure your family’s safety from COVID-19, but also that your estate planning documents are updated, valid, and enforceable. What […]
COVID-19 has deeply impacted the economy in the United States and this will likely continue for a long time. As a result of the pandemic, interest rates continue to fall and are currently sitting at a historic low. Today, the interest rate rests at 0.25%, the same as it was during the 2008 Housing Crisis. Many […]
Far too many families end up fighting, or at least experiencing tension, over a family inheritance, but it does not have to be that way. Many families have worked through the details of divvying up a deceased relative’s property remarkably well and ended up even closer. Having counseled families for years, we offer the following advice […]
No one looks forward to the passing of a loved one, but many people cannot help but wonder about a future inheritance. Often when a person dies and leaves money or property, the beneficiaries and heirs want to know about the overall value of the estate. Most jurisdictions require an executor or trustee shares this information […]
The death of a loved one is one of the most difficult times in a person’s life. Nothing can truly prepare a person for such a loss. However, dealing with the financial stress of frozen bank accounts can exacerbate the stress. Without proper planning, your significant other could struggle to gain access to your accounts, even […]
Passing Your Stories and Values to Future Generations Money tends to be focus of an estate plan, but the one’s riches of wisdom, values and experiences, can be more meaningful to their family and friends. Reinforcement of family traditions can be built into your estate plan alongside your wishes regarding your money, property, and belongings. After […]
Franchise and multilevel marketing (MLM) businesses are often attractive because they offer people the chance to start a small business with a well-known brand and an established business model. However, these businesses present different types estate planning challenges because their rights and obligations are spelled out in contractual agreements. What Is a Franchise? When you purchase […]
