Planning Your Estate

By Justin Stoltzfus March 20, 2014 Even with a lot of advice from financial advisors, and some considerable work on protecting capital gains, some unlucky households can find that unanticipated rules on state tax laws can...
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By James O'Brien. If you meet the threshold for?estate taxes, think of 2014 as a landmark year in your planning. The rules surrounding exemptions and gifts have changed, and the impact could be far-reaching for your family...
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When beginning to plan for leaving their property to heirs, people are confronted and frightened by the high estate tax rates and rush to utilize sophisticated estate planning techniques to avoid them. Yet, there are some...
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A popular misconception regarding estate planning is that only the wealthy need to be concerned about the transfer of their assets. In reality, everyone should determine their goals and objectives for the transfer of...
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Just what is an estate plan? A basic estate plan is comprised of a trust, will, durable power of attorney (for management of property and personal affairs), and durable health care power of attorney. Who needs an estate...
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Probate, in its most restrictive sense is the process of "proving" that a decedent's will is valid and that it is the last will that person wrote. Viewed in a broader scope, "probate refers to the entire process of the...
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You may be one of many worried about the financial issues of mental incompetence, obligations of caring for a disabled relative, or providing a residence and care for the physically incapacitated. If you are a principal...
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One of the most powerful of all estate planning tools is also one of the most simple. It's based on the concept of "Dividing and Conquering" the federal estate and income tax. How do you DIVIDE AND CONQUER? Remember the...
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For many clients and their planners, the central goal of estate planning has long been to pass as much wealth, net of taxes, to the next generation as possible. This thinking suggests that protecting assets is the solitary...
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There's a good chance that you've heard that federal estate taxes are scheduled to disappear in 2010, yet return in 2011. Many people, however, expect major changes before then. What these changes will be though is anyone's...
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By Justin Stoltzfus January 7, 2014 Hot news from the finance industry shows that the monolithic fee structures of large hedge funds appear to be cracking. Under pressure from investors, these investment funds are...
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In a "traditional" estate plan, each spouse provides for his or her assets (or most of the assets) to pass to the surviving spouse, with the understanding that those assets will go to their children at the surviving spouse's...
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It's the type of topic we'd rather not think about - too reminiscent of our own mortality. No one wants to contemplate the possibility of a spouse's death. And no one wants to talk about how the survivor will sort out the...
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I realize death is not anyone's favorite subject, especially when considering your own! While you are planning for the future of your family and loved ones at the time of your death, consider the documents that will help...
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During the past five years, changes in federal estate tax law have meant good news for wealthy Americans. Reductions in tax rates imposed on estates and increases in the threshold at which estates are subject to the estate...
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With the holidays, generosity blooms. Despite the commercial din, we take joy in giving gifts, and our hearts and minds become attuned to those we love. It is also a season for reflection on the past and the future and...
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In the event of your death, have you considered the choices that must be made concerning your final affairs? How can you ensure that these decisions will be consistent with your wishes? Did you know, that if die without...
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For years, you?ve been investing in an IRA or employer-sponsored retirement plan, and, thanks to the benefits of tax-deferred growth, you now have a considerable nest egg ? enough to enjoy a comfortable retirement and pass...
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Probate is the legal process of wrapping up a person's affairs, paying their bills, and distributing their assets. And it is not uncommon for this to take several months to go through the court system. The expenses involved...
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As it has often been said, two things in life are certain: death and taxes. Estate planning is the art of ensuring that one doesn't cause the other. You may already know that some estates, those with a total value of...
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If you have got some years to go until retirement, you may think it's too early to think about estate planning. But no one can foretell the future ? so it pays to be prepared. Of course, estate planning consists of many...
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There's never a shortage of documents, especially in the financial world. Here's a list of what to keep, where and for how long. Item Where How Long Adoption Papers Safety Deposit...
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Current tax laws have made estate planning more complicated. The estate tax is scheduled to phase out gradually until 2009, be repealed in 2010, and then reinstated in 2011 based on 2001 tax laws. That assumes there will be...
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Deciding whether you should give a significant asset to an heir during your life or after your death has typically involved weighing potential estate tax costs against capital gains taxes that would be due when the asset is...
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The most common estate plan is to leave everything to your spouse, who then leaves everything to your children after his/her death. However, if this is other than a first marriage, you and your spouse may also have children...
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For many people, retirement accounts, including 401(k) plans and individual retirement accounts (IRAs), are their most significant assets. While you may think you'll need every bit of money in those accounts for your...
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Even if you have a formal estate plan, organizing your personal paperwork and informing heirs of basic decisions will make it easier for heirs to handle your estate after your death. Without an organized approach, your...
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