Estate taxes can be a complicated subject especially as they are often a discussion in public policy. Approximately 0.2% of US adults who passed away in recent years owed estate taxes. In 2022, the estate tax is only triggered by those people who have an estate with assets in excess of $12.06 million. Estate taxes [...]
New research from the Max Planck Institute for Demographic Research indicates that putting off retirement until a later age could slow down your rate of cognitive decline. The research found that staying in your full time role until at least age 67 can help to protect you against cognitive impairment such as that caused by [...]
The spread of the Omicron variant of Covid-19 is prompting many financial professionals to reach out to their clients to update those clients' financial plans. It is very important for everyone to identify gaps in their current financial plan and to develop a strategy for the oncoming uncertainty. It is a great time to think [...]
If you are looking to transfer wealth through multiple generations you might consider using a tool known as a dynasty trust. This is a strategy to transfer wealth from one generation to another without the assets being negatively impacted by GSTT, estate or gift taxes. These tax benefits apply so long as the assets stay [...]
As you get older and plan ahead for retirement, it's important to think about all the financial implications of the decisions that you make. For example, where will you live? This is important not just to choose how to be around family or the opportunities available with part time jobs for retirees in the area. [...]
In discussing and researching options for your own estate planning, you may come across multiple options and strategies that can help you accomplish your goals. This can be further cemented by talking with a knowledgeable estate planning lawyer about your next steps, and you might hear the term charitable trust as part of this planning [...]
Do you have a solid retirement or estate plan? If not, you could be exposed to unnecessary challenges in the future or put your loved ones in a difficult situation. Only 24% of US workers reported that they were very confident they'll be able to retire in the lifestyle they want, according to a new [...]
The gap between what your current business is worth during the process of completing your estate and succession planning and what it could be worth in the future when you pass away should be considered as part of your overall planning process. Many people choose to address this financial gap using a tool known as [...]
If you notice that a loved one has started to show signs of dementia, this is important from a care perspective a legal perspective. The sooner you can get them necessary help, the better you'll understand treatment options as well as some of the things you can expect if the disease progresses. Likewise, there are [...]
If you experience an income or financial surge this year like a bonus, a sale of crypto currency, or appreciated option exercises, you may wish to use a charitable lead annuity trust strategy to respond to it. There are three primary situations that should trigger you to think about a grantor CLAT. They include: You [...]
