The American Dream envisions home ownership for everyone. And most of us save for this purchase with the thought of passing it on to our families one day. But questions about ownership and how it’s passed on are pretty common. Questions like, “If I give my home to my child in my will, can they take […]
The short answer to whether couples in a domestic partnership have the same rights as married couples when it comes to estate planning is probably not. To a large extent, the state in which you live, and maybe even the city or county, determines domestic partners’ rights. What Is a Domestic Partnership? Everyone knows what a […]
Many people associate spring with cleaning out the old, brushing off the dirt accumulated from the long winter, and starting projects around the house that have been neglected for far too long. Perhaps, however, your home is fine as is and you need a remodeling project for something other than your home. Estate planning is one […]
According to a 2019 survey conducted by the Pew Research Center, 7 percent of surveyed adults were living with an unmarried partner, up from 3 percent in 1995.[1] More people such as yourself are entering long-term committed relationships without getting married. Unfortunately, many state and federal laws do not protect unmarried couples as they do married […]
With couples of similar ages, planning for the future is naturally a joint effort. However, if your marriage has a sizeable age gap, meaning you are married to someone who is significantly older or younger than you, the future can look different and mean different things to each of you. To protect yourself, your spouse, and […]
It is better to give than to receive. But if you give a gift above a certain amount, you might end up owing money to the Internal Revenue Service (IRS). The federal tax code has very specific rules about how much you are allowed to transfer to others each year—and over the course of your lifetime—in the […]
If you’re reading this, you’re one of the millions of Americans who need an estate plan. Why? The short answer is “Everyone, age 18 and older needs an estate plan.” It doesn’t matter if you are old or young, Bezos-rich or just starting adulthood, the fact is, you need a written plan to keep you in control […]
A popular estate planning tool that has long been used effectively may be facing new challenges under the ever shifting currents of tax law and politics. The family limited partnership (FLP) is an estate planning tool that allows families not only to transfer significant amounts of their wealth to succeeding generations while reducing estate, gift, and […]
