Category: Estate Planning

Inherited 401(k)s: 6 Questions Heirs Need to Ask Did you know that an inherited 401(k) can be a lasting legacy, but the windfall should be handled carefully to maximize the inheritance and minimize taxes? Your relationship to the deceased and the 401(k) plan’s own rules can impact your options for managing the money. Step carefully, …

Understanding Special Needs Estate Planning for the Cognitively Impaired Do you have a child or loved one with a developmental disability or other type of cognitive impairment?  Your estate plan may have considered current or potential physical disabilities, but what if your loved one has developmental or other types of cognitive disabilities?  Individuals with these …

7 Questions to Ask Before Updating Your Estate Plan After Remarriage  Did you know that remarriage is on the rise in the U.S.? It can be important to note, however, that remarriage can create some tricky estate planning issues. Are you wondering how you can assure your assets end up where you want them to …

Understanding Prenuptial Agreements for Estate Plans Discussion of the prenup seems to abound, surrounding celebrity and other high-profile marriages. From a legal perspective, what exactly is a prenuptial agreement and how can you add one to your estate plan? As the term itself suggests, a prenuptial agreement is an agreement, or more accurately, a legal …

Are You Set Up To Protect Your Digital Assets? New Year’s resolutions are in full swing, and in this new year of 2021, understanding how to protect your digital assets seems like a hot topic. Data security is in the headlines, and digital privacy is the new black. On January 28, 2021, we will recognize …

Understanding the Portability of the Estate Tax Exemption Many people make estate tax avoidance a priority. This makes sense considering how costly the estate tax can be if the total value of an estate exceeds the allowed exemption amount. Fortunately, there have been laws introduced to help people plan for estate taxes. For instance, did …

Three Considerations for Remarriage and Estate Planning in the New Year Have you remarried or are you planning to remarry in the New Year? If so, you should be aware that remarriage can have a significant impact on your estate plan. Now can be a great time to review your estate plan to make sure …

As we enter the giving season, there is an additional reason to be charitable. Congress enacted a special provision that allows more people to easily deduct up to $300 in donations to qualifying charities this year.

Using Your 529 Savings Plan as an Estate Planning Tool Were you aware that many parents use 529 savings plans as a way to let their child’s college funds grow tax-free? These plans, however, may not be just for parents, and they do not have to be used by a specific beneficiary. There are potentially …

Can Leaving Money to Charity Benefit Your Estate? If a charitable cause is near to your heart, it may be likely that you will donate time and money during your lifetime. Giving while you are living also comes with the benefit of a charitable tax deduction. Although this may not be what many people focus …