When we learned of the original provisions in the Build Back Better Act, many individuals panicked, rushing to complete Estate Planning or seeking to undo certain aspects of their estate plan. As the Build Back Better Act has evolved, many wondered if they should have waited before making significant changes to their estate plan. No matter what happens with the Build Back Better Act, an estate plan centered on long-term goals will serve you well. Read on to learn more. … [Read more...]
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Free Wills and Trusts Workshop
If you’re struggling to talk to a loved one about their will, trust, powers of attorney, and healthcare directives, inviting them to attend this workshop is an easy way to relieve yourself of the pressure. We’ll do the talking and approach the “difficult” conversations about money, death, taxes, incapacity, and complex family estate issues so that you don’t have to. You should also consider attending if you: • Have minor children or a child with special needs.• Own a home, a business, … [Read more...]
Tax Planning for 2022
Planning is important for your income taxation during life as well as for any estate tax at death. Even though 2022 is just starting, it’s not too early to think about planning for whatever it may bring your way. Read on to learn more. … [Read more...]
End of Year Planning
This has been a tumultuous year for Americans. Most of us will bid 2021 good riddance and welcome the New Year with open arms. But, before we do that, a little planning now can help us to prepare for next year. There are many ways to adjust your finances to receive the greatest income tax advantage. Keep some important principles in mind. A dollar in tax today is more expensive than a dollar in tax tomorrow. Try to accelerate deductions by paying for them or even … [Read more...]
Gifting to Benefit Minor Children
Each year, the IRS excludes from the gift tax certain gifts, including: Gifts to a U.S. citizen spouse;Gifts up to $14,000 annually to any individual; andDirect payments to an educational provider for tuition or to a medical provider for medical care When it comes to your minor children, grandchildren, or other important minors in your life, a few considerations must be addressed. They may not possess the legal capacity to receive gifts quite yet and few have the maturity to handle the … [Read more...]
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