The Treasury Department is currently evaluating a proposed regulation that could change how wealthy business owners are eligible to pass on businesses to their children or other heirs. individuals are currently able to discount valuations of stakes in a family owned business to minimize the taxes due upon transfer. A 40% levy could be applied […]

Most estate planning conversations with a lawyer have to do with the trusts that are set up upon each individual’s death, their attitudes or self-sustaining care towards the end of the life and the distribution of their assets.  However, you should never neglect the softer side of your estate planning including your care of your […]

There are two major types of durable powers of attorney that can be essential for estate planning purposes. They should always be executed as part of a comprehensive estate plan that has put together by a knowledgeable attorney.   First of all, you may use a durable power of attorney for asset management which gives […]

Leaving behind sizeable cash assets, gifting or transferring this type of wealth to family members is part of your estate plan and could be subjective to significant taxes if you are not careful. However, if you transfer real estate investments of similar value, this could lead to significant discounts.  Real estate investments in which the […]

Financial and estate planning advice is intended to apply to everyone but the strategies and tactics used maybe differentiated based on the gender and age of the person asking the questions. The reality is that all statistics point to women longer than men and facing more significant issues when it comes to ensuring that the […]

Veterans Aid & Attendance Benefits and Pet Trusts

For the majority of retired investors and retirees overall, taxes, trust and income are all critical issues. These may be seen as a necessary evil but it is important to reframe your thinking to consider that a trust as one example as nothing more than a legal document that empowers you to exercise control over […]

Before you start splitting time between two or more states, think about where you’d like to have as your primary place of residence because there are several different advantages to choosing one place over another. Then, after you have made this decision for yourself, be prepared to prove that the state you choose is really […]

Looking ahead to retirement is something that is a big issue for many baby boomers getting closer to prominent retirement ages of 50 and beyond. However, an exploration of the finances of people in this age category indicates problems with burdensome debt.  According to the University of Michigan Retirement Research Center, more Americans are carrying heavy debt […]

Appointing an executor is an important step to take if you want to protect your interests after you pass away. Choosing the right person to serve in this role is important because you need to place your faith in this individual. For your family members struggling to cope with your loss, the selection of an […]