The TCJA and Estate Taxes- Start Preparing Now

By |2024-05-23T11:10:47-05:00May 24th, 2024|Blog, Estate Planning|

The TCJA and Estate Taxes could be up in the air depending on the presidential election outcome. With the 2024 election looming, uncertainty hangs over the fate of the Tax Cuts and Jobs Act (TCJA) of 2017. This landmark legislation included a significant increase in the estate tax exemption, allowing individuals to transfer much [...]

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Irrevocable Grantor Trusts: IRS Ruling May Affect Your Estate Plan

By |2024-04-25T09:47:43-05:00April 26th, 2024|Blog, Estate Planning, Estate Planning|

Irrevocable Grantor Trusts (IGTs) have been a popular tool for estate planning. They help you reduce estate taxes, avoid probate, and distribute assets according to your wishes. But a new IRS ruling (Revenue Ruling 2023-2) throws a wrench into things. Let's break down what this means for you. What are Irrevocable Grantor Trusts (IGTs)? [...]

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Spring into Action: 7 Reasons to Start Estate Planning Now

By |2024-04-18T11:27:59-05:00April 19th, 2024|Blog, Estate Planning, Estate Planning, Tips|

Reasons to start estate planning this Spring are all about getting a fresh start! Spring has sprung! The birds are chirping, flowers are blooming, and there's a fresh sense of renewal in the air. It's the perfect time to tackle that spring cleaning list, but what if we told you there's an even more [...]

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Wills and Trusts: How an Estate Planning Attorney Can Help

By |2024-04-11T10:35:33-05:00April 12th, 2024|Blog, Estate Planning, Estate Planning, Tips|

Wills and trusts may seem like just documents to some, but they are the foundation of protecting your legacy. Estate planning can feel overwhelming, especially when terms like "wills" and "trusts" get thrown around. You know you want to ensure your loved ones are taken care of after you're gone, but navigating these legal [...]

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What is a Spousal Lifetime Access Trust (SLAT)?

By |2024-04-05T09:16:57-05:00April 5th, 2024|Blog, Estate Planning, Estate Planning, Tips|

A Spousal Lifetime Access Trust (SLAT) may be a tool that you need in your estate planning to stay ahead of taxes. In the world of estate planning, the landscape is ever-changing, with tax laws and regulations in constant flux. Recent proposals to alter federal estate and gift tax exemptions serve as a stark [...]

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Preserving Generational Wealth with Estate Planning

By |2024-03-28T10:01:47-05:00March 29th, 2024|Blog, Estate Planning, Estate Planning|

How do you preserve generational wealth? In today's fast-paced world, where financial stability and security are paramount concerns, building generational wealth has become a significant goal for many families. Generational wealth isn't just about accumulating riches for oneself; it's about ensuring that those assets are preserved and passed down to future generations. At Lexern [...]

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Making Your Estate Plan Tax Efficient

By |2024-04-15T10:56:36-05:00March 15th, 2024|Blog, Estate Planning, Tips|

Making your estate plan tax efficient may not be in the forefront of your mind when it comes to thinking about your legacy. But with the right planning, you'll be able to make your estate plan tax efficient, saving your assets for future generations. Estate planning is not merely about passing on your assets; it's [...]

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Updating Your Will After Divorce

By |2024-02-19T11:25:30-06:00February 23rd, 2024|Blog, Estate Planning, Tips|

Updating your will after divorce is a crucial step in your new chapter. Divorce is not just the end of a marriage; it marks the beginning of a new chapter in life. Amidst the emotional and logistical adjustments, it's crucial to address practical matters, including updating or initiating an estate plan. While often overlooked, [...]

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Estate Planning for Couples at Any Stage

By |2024-02-15T10:50:08-06:00February 16th, 2024|Blog, Estate Planning, Tips|

Estate planning for couples is a great topic for you and your partner this Valentine's Day! Valentine's Day is not just about chocolates and roses; it's also a perfect time for couples to consider building a lasting legacy together through estate planning. While conversations about wills and trusts might not seem romantic, they are [...]

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Irrevocable Life Insurance Trusts Make Your Estate Tax Efficient

By |2024-04-15T12:48:14-05:00February 9th, 2024|Blog, Estate Planning, Estate Planning|

Irrevocable Life Insurance Trusts may alleviate heavy tax burdens on your estate. Are you aware your life insurance policy may bring a heavy tax burden along with it? Many individuals and families are unaware of how their life insurance policies may affect their estate plans, especially those with significant wealth. But fear not, there's [...]

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