Is It Important to Have a Power of Attorney?

Is it important to have a poa

While we are alive, we can clearly make our own decisions. Unfortunately, one day you may find yourself in a situation where you cannot make your own decisions. Such situations occur most often in accidents, illnesses (physical or mental) and simple aging situations.

How Much can You Inherit and Not Pay Taxes?

taxes on inheritance

Unless you spend your winters in Aspen and your summers in the Hamptons, you probably don’t have to worry about paying federal estate taxes on an inheritance. In 2021, the federal estate tax doesn’t kick in unless an estate exceeds $11.7 million.

Before They’re Gone—Estate Planning Strategies

Estate planning strategies

If you have not already been inundated with invitations to webinars, articles and newsletters regarding the estate planning you should consider doing before new legislation passes, you undoubtedly will receive these over the next few months.

Good News for Social Security Recipients Next Year?

Social Security recipients likely already know that their benefits get a bump almost every year to counteract the effect of inflation. However, that cost-of-living adjustment is just one of several annual tweaks to the Social Security system.

Why Do Families Fail when Transferring Wealth?

family talk

Over the next 25 years, analysts anticipate $68 trillion to be passed down to younger generations and charities. While the importance of legacy planning is not limited to the forthcoming Great Wealth Transfer, it does spotlight the significant amount of wealth that has been created, primarily by Baby Boomers, and the need to transition these assets thoughtfully.