Learn what you need to know about 2025 estate planning and how to position your legacy for the future. The 2024 election has ushered in a pivotal moment for estate planning, especially for high-net-worth individuals. With significant tax changes on the horizon, now is the time to revisit and refine your estate plan to [...]
As the seasons shift and we head towards the end of the year, many of us reflect on change. Yet, for high-net-worth individuals and families, there’s an upcoming “sunset” that may impact their financial future—one that’s not found on the horizon but rather in Washington, D.C. The current federal estate tax changes to exemptions [...]
Navigating the death of a parent brings profound emotional challenges, and managing their estate can add an additional layer of complexity. Estate planning plays a critical role in making this difficult time more manageable. Whether your parent left behind a clear estate plan or you are navigating the probate process, understanding the steps involved [...]
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 [...]
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)? [...]
Let's deep dive into the benefits and pitfalls of Payable on Death Accounts. When it comes to managing your finances and planning for the future, understanding your options is key. One financial tool that you may have come across is the Payable on Death (POD) account. Here we'll break down what POD accounts are [...]
Tax savings for business owners may be found in the Qualified Small Business Stock. As a business owner or professional looking to invest in small businesses, you're likely always on the lookout for ways to optimize your financial strategy. One powerful but often overlooked avenue for reducing tax liability is Section 1202 stock, also [...]
Tax brackets changes for 2023 have been announced by the IRS in response to rising inflation. Tax brackets play a crucial role in determining how much individuals and businesses owe in taxes. These brackets define the income ranges that correspond to different tax rates, ensuring a progressive tax system where higher earners pay a [...]
Learn the right ways to help your adult children buy a home so you minimize any implications on your own financial goals and estate planning. As parents, we want the best for our children, and one significant milestone in their lives is purchasing their first home. However, rising property prices and challenging financial circumstances [...]
What to do with an inherited IRA can seem overwhelming at first, but inheriting an IRA can be a significant financial asset. It's important to understand the options available to you and how to make the most of the money you've inherited. If you've inherited an individual retirement account, there are many planning decisions [...]
