After Tax Reform, Is Estate Planning Still Necessary?

The new tax legislation raises the federal estate tax exemption to $11.2 million for individuals and $22.4 million for couples. The increase means that an exceedingly small number of estates (only about 1,800, nationally) will have to worry about federal estate taxes in 2018, according to estimates from the nonpartisan congressional Joint Committee on Taxation….

Why Your Estate Planner Needs to Know If You’ve Lent Money to Family

Many children and grandchildren are skipping the traditional bank and obtaining loans from parents or grandparents.  Unfortunately, we have all heard stories of families torn apart because of disagreements over money. So, what can you do to make sure your intra-family loans help – rather than hurt – your family? As far as estate planning…

All you need to know about Estate Planning and the New 2018 Tax Law.

For most people the estate tax hasn’t come into play for many years. Instead of eliminating the estate tax, the estate tax exemption has been raised to $11 million for an individual, and $22 million for a married couple that elects portability. Let’s take a moment to explain how the estate tax exemptions and gift…

Organizing for Tax (and Estate Planning) Season

It’s the start of a new year, which means tax season – and this year’s April 17th IRS filing deadline – is just around the corner. Soon you’ll be receiving tax forms such as your W-2 or 1099s, and you’ll start thinking about the life events that could affect your taxes in various ways. This…

What to Expect from Estate Planning in 2018

As we all look ahead to 2018, let’s consider a few things to watch regarding estate planning, so you and your family can be completely protected. The death tax. The death tax has been in a state of flux ever since the early 2000s when the Bush administration’s first tax cuts changed the exemption and…

Four Reasons Why Estate Planning Isn’t Just for the Top 1 Percent

There is a common misconception that estate plans are only for the ultra-rich – the top 1 percent, 10%, 20%, or some other arbitrary determination of “enough” money.  In reality, nothing could be further from the truth. People at all income and wealth levels can benefit from a comprehensive estate plan. Sadly, many have not…

Gift Giving the Tax-Free Way

Although it’s the season of giving, no one wants to share with the IRS. Luckily, the law provides you many opportunities to give gifts to family, friends, and charities tax-free.  Some are straightforward, while others may require the help of a professional. Your Yearly Coupons Each year on January 1st, everyone receives what can be…

Is Your Estate Plan as Stale as Last Week’s Ham Sandwich?

6 Reasons to Update Your Estate Plan Estate plans are almost magical: they allow you to maintain control of your assets, yet protect you should you become incapacitated. They take care of your family and pets. And, if carefully crafted, they reduce fees, taxes, stress, and time delays. Estate plans can even keep your family…