The ING trust is used to generate tax savings in a number of ways. For the right person, they are a trend worth looking into. Are they right for you? The expanded transfer tax exemptions created by the 2017 tax reform legislation will end in 2026. However, in the meantime,…
Life insurance can help heirs avoid having to incur expenses like estate taxes, funeral costs and similar expenses. However, it also gives heirs breathing room, so they can make the best use of other assets. Here is an example of how life insurance should work. A father, Howie, dies and…
Writing your own will is a lot like trying to do your own dental work. You can brush, floss and even use a water flosser, but the rest is best left to the trained professional. It’s a fairly common question: “Why can’t I download a form and create my own…
Gun owners, you may own guns to protect your family or because you admire the workmanship or history of firearms. However, without a gun trust, your heirs may face a surprising consequence. Mistakes with inherited IRA accounts can become expensive, but the penalty is financial. Inherit a gun collection without…
While there’s a time limit on this great opportunity for tax-free giving—2025, unless Congress makes some changes—this is a good time to take advantage of minimizing your tax liability through generosity. There’s a new big break for top-dollar wealth transfers, thanks to the new tax law. Basic rule: the more…
Following the adoption of new rules, there will now be options for veterans to appeal their disability benefits. The hope is that these three new processes will speed cases. It took more than a year and a half, but the Department of Veterans Affairs has announced that new appeals rules…
Most donations are made in December, and charities of all shapes and sizes make the most of the holiday spirit. However, by taking a bit of time to plan out charitable giving, including doing some research and talking with your family about your legacy, your giving could have a greater…
For people who like to plan and don’t trust anyone else to get the details right, estate planning and even funeral planning can provide peace of mind. If you watched the funeral of the former President George H. W. Bush, you may have noticed how smoothly everything went. Every detail…
Live long enough, and you learn that life can change in a heartbeat. Young adults don’t always know this, but they need to have an estate plan as much as older people. Whether you are a Baby Boomer or a Millennial, you need to have an estate plan. With the…
You know that health care, taxes and not saving enough for retirement can derail retirement. However, what about the risks you never saw coming? Consider these three risks to retirement says Wealth Advisor in the article, “The Three Risks To Prepare For In Retirement.” They are a little less obvious…