Understandably, people generally do not like to consider the end of their life, let alone plan for it. However, it is always better to be prepared than to not be prepared for the inevitable. Fortunately, you can do so through the creation of a comprehensive estate plan. When you live...

When a loved one passes away, family members will generally handle the deceased’s estate plan. During this time, if the decedent has a will, the probate process will begin. Probate works to determine the validity of the will and ensure its orders are ready to be carried out. The probate...

Dear Client: You may have heard that the federal appropriations bill enacted into law by Congress and the President in the final weeks of 2019 includes changes to the federal tax code that may affect your qualified retirement plan (such as a 401(k)) or IRA (sometimes called “retirement assets” in...

Many people love to give back to their community during their life. Sometimes, they even like to do so after their life is over. This can be accomplished through specific creations in an estate plan. If you would like to include charitable planning in your estate plan, it is beneficial...

It is important for anyone to create a comprehensive estate plan at some point throughout their life. While the process can prove to be complicated, it benefits you in the long run. However, there are many ways a simple mistake can be made along the way. It is because of...

According to literature, the “seven deadly sins” are lust, gluttony, greed, laziness, wrath, envy and pride. Although individuals may be guilty of these from time to time, other types of “sins” can be fatal to an estate plan if you’re not careful. Here are seven transgressions to avoid. Sin #1:...

Roth IRAs offer significant financial and estate planning benefits. If you have a substantial balance in a traditional IRA and are considering converting it to a Roth IRA, there may be no better time than now. The Tax Cuts and Jobs Act (TCJA) reduces individual income tax rates through 2025....

Is your pet like a member of the family? If so, you may want to revise your estate plan in case your pooch or feline outlives you, just like other family members. The optimal approach may be to use a so-called “pet trust.” Pet trusts have been around for decades,...

Trusts come in all shapes and sizes. However, from an income tax perspective, there are basically two types: grantor trusts and nongrantor trusts. Generally, with a grantor trust all trust income is taxed directly to the grantor — the person establishing the trust — and assets in the trust may...

The process of administering an estate is a very complex and time-consuming process. It is because of this that it is important to be prepared if you have a loved one that recently passed away. During this time, it is beneficial to retain the services of a compassionate and experienced...