Assembling Your Own (Estate Planning) Team

Some of us may enjoy games like fantasy football that allow us to assemble our own star team with the players we think will provide the most value. While fantasy football is fun to participate in, have you thought about the importance of establishing your own dream team? Just like in fantasy football, each player [...]

2023-12-12T22:07:07+00:00Estate Planning, Taxes, Wills|

Proposed Changes to How Your Retirement Plan is Managed

Prevent Excessive Accumulation The Greenbook outlines proposals on several different topics. One proposal that could directly impact your future financial security is the proposal to prevent excessive accumulations of wealth by high-income taxpayers using tax-favored retirement accounts. Tax-favored (sometimes referred to as tax-deferred) retirement accounts, such as individual retirement accounts (IRAs) and 401(k)s, were approved [...]

Three Improvements the Administration Wants to Make Regarding Administration for Trusts and Decedents’ Estates

When a person dies, there are often several tasks that need to be completed to properly wind down their affairs (their estate)—funerals and other preparations need to be planned, bank and investment accounts closed, property transferred, arrangements made for pets, tax returns filed, and final bills paid. There are several proposals in the Greenbook that [...]

2023-09-09T00:20:48+00:00Estate Planning, Taxes|

Taxes That Can Impact Your Estate Plan

Estate planning involves deciding how to plan for the management of your money, property, and well-being before your death and how to distribute your money and property after your death. A comprehensive estate plan should consider the impact that taxes can have on your estate and ensure that your estate is distributed in a tax-efficient [...]

2023-05-10T15:41:01+00:00Estate Planning, Taxes|

Quiz: How Much Do You Know About Taxes?

Test your tax knowledge with this short quiz about our tax system. Did You Know? The most misused Social Security number of all time was 078-05-1120.7 In 1938, as part of a promotion to sell wallets through Woolworth and other department stores, wallet manufacturer H. Ferree Company wanted to demonstrate how a Social [...]


Balancing Act: What Matters Most to You?

When people begin getting their affairs in order through the creation of an estate plan, they often face a delicate balancing act between saving on income and estate taxes, protecting their hard-earned savings from their ultimate beneficiaries’ creditors, and providing maximum benefit to their loved ones. Finding the right balance requires careful consideration of the [...]

2023-04-12T19:37:01+00:00Estate Planning, Taxes|

The Deceased Spouse’s Unused Exemption (DSUE) Amount: a Spouse’s Final Gift

Spouses often work together to build wealth for themselves and their children. Congress recognized this by enacting the gift and estate tax portability election  in 2010, and making it permanent in 2012, providing married couples with a relatively simple way to potentially shield much more of their wealth from federal gift and estate taxation. If [...]

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