What is the Federal Estate Tax?
January 30, 2017Learn the Facts: Federal Estate Tax At the end of 2010, Congress passed the ‘‘Tax Relief, Unemployment Insurance Preauthorization, and Job Creation Act of 2010.” Special provisions apply to those who died in 2010. In 2011 and 2012, there was an exemption amount from federal estate tax of $5 million and $5.12 million per person… Read more »
Avoid the Estate Tax and Gift Tax and Still Make Lifetime Gifts?
January 26, 2017Learn How To Avoid Estate and Gift taxes and Still Make Gifts During Your Lifetime? Gifts can be categorized as present interest or future interest gifts. A present interest gift means the person receiving it has immediate possession or enjoyment of the gift. A future interest gift is the opposite of a present interest gift,… Read more »
What is the Gift Tax and Why do We Have One?
January 24, 2017The Gift Tax – What it is and Why We Have One The gift tax is a tax the federal government imposes on an individual for gifts made during lifetime. The tax will apply to an outright gift or a gift to a trust. The reason we have such a tax is to prevent individuals… Read more »
Is it Wrong or Somehow Unpatriotic to Want to Reduce My Taxes?
January 20, 2017How Can I reduce My Taxes or is that Unpatriotic? Some believe it is illegal and possibly immoral to use estate planning strategies to reduce one’s taxes. I want to reduce my taxes. Judge Learned Hand stated more than a century ago that: “Anyone may arrange his affairs so that his taxes shall be as… Read more »
What Happens if One of My Team Members Retires, or Closes Their Business?
January 18, 2017I have a Financial Team but What is One Retires Let’s review my team first and then ponder what if one retires. Here is my Team. The answer depends a bit on who you are, what your life situation is and what your goals are. Here are some guidelines. Financial Advisor-Similar to a primary care… Read more »
How Often Will I Need to Update My Plan?
January 16, 2017Once you have established your estate plan, make sure it stays sound by revisiting it at regular intervals or at key life events. Many people review their estate plan at a regular frequency, often when they review their whole financial plan. This can be done annually, semi-annually, or quarterly; for estate planning specifically, the general… Read more »
With So Many Advisors, Will I Maintain Control of My Finances?
January 12, 2017Do I Need a Team of Advisors? What if I lose Control? Thinking about your financial future doesn’t have to be frightening or stressful. When you’re backed by the right team of professionals, you can breathe easy and know that you are on your way to achieving your financial goals. Do you need a team… Read more »
How Does the Planning Team Work Together?
January 06, 2017Learn How a Planning Team Works What is a planning team and why do I need one? Do I assemble this dream team or are there ones already in place that I can work with? Let us explain one of the new ways to do estate planning. Imagine that you are going to build your… Read more »
How Do I Find a Qualified Financial Planner or Investment Advisor?
January 04, 2017I need to find a financial planner qualified to handle my estate. Ideally, you would be referred to someone that a trusted advisor recommends – a qualified financial planner. A trusted advisor could be a member of your family, your CPA or attorney, or a friend or colleague. You may not have a trusted advisor… Read more »
What Role does a Financial Advisor Have in Estate Planning?
January 02, 2017Does a Financial Advisor Have a Role in Estate Planning? Yes – a financial advisor has a role in Estate Planning. When forming an estate plan, financial advisors have a crucial role. The advisor is focused on the client’s finances, and you can help prevent important financial information and procedures from slipping through the cracks…. Read more »