Most people are familiar with the basic needs of an estate plan: Will, Revocable Living Trust, Durable Power of Attorney and a Living Will or Health Care Power of Attorney. But high net worth estate planning requires individuals to also ensure that their estate plans are sophisticated and thorough enough to protect larger assets like […]
With the expected gift tax changes looming on the horizon, many clients are looking at ways to restructure estate plans to avoid estate and gift taxes. In this post, we’ll look at a few estate planning gifting strategies to consider: Family Trusts, Gifting Plans, Life Insurance Trusts, Grantor Retained Annuity Trusts (GRATS), and Spousal Limited […]
The estate and gift tax exemption amount (currently $12.92 million per individual and $25.84 million for married couples) reverts to its pre-2018 levels (adjusted for inflation), if Congress fails to act prior to December 31, 2025. Projections vary, but it is estimated that the 2026 estate and gift tax exemption could be as low […]
While most people don’t get excited about the idea of estate planning or setting up wills and trusts, it’s an important task that’s better started sooner rather than later, especially given the common complexities of finances and family dynamics. Having an estate plan in place ensures your property and assets are distributed according to your […]
It’s incredible how much life changes from year to year. The changes may seem small as they happen, but they can become massive transformations over time. This is especially true when marriages, divorces, births, and adoptions impact a family. That’s why reviewing your estate plan every year is especially critical. Doing so will ensure that […]
Through proper planning, a gift you choose to leave can be encouraging, inspiring, or even life-changing. There are several ways to leave behind gifts through estate planning for causes you care about. Here are some ways you can choose to give and some key things you might want to consider. A Specific Bequest for Your […]
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