Don’t Miss Out on Estate Planning Opportunities
People often overlook critical steps when they are doing their estate planning.
There are Ways to Transfer Home to Your Children
Transferring a home to adult children is not quite as easy as giving them the keys and letting them move in. No matter how you do it, the taxman wants his cut, whether through estate and gift taxes or those for property and income, both federal and state.
The Benefits of a Good Estate Plan
Estate planning helps you avoid many unfortunate situations. While it can take some time and money upfront, you can avoid many worse problems later on.
What Happens when You Inherit a Retirement Account?
There’s almost always a reckoning when the government proffers a tax break. So it is with individual retirement accounts (IRA)s, 401(k)s, and similar accounts that investors fund with pre-tax earnings.
Factors to Consider when Picking Executor, Trustees and POAs
One of the biggest challenges that clients encounter during the process is deciding who to appoint as their trustees, powers of attorney, health care surrogates and executors.
What Is Upstream Planning?
Doing some ‘upstream’ planning will take the guesswork out of what’s coming your way.
Why Is It Important to have an Estate Plan?
The new Federal Estate tax limit (above which Federal estate taxes will be payable) is $11,200,000.00 per person. Yes, most of us will not hit that limit, but 19 of the 50 states, Illinois included, impose an estate tax of their own ranging from .25% to almost 20% of your estate.
Ask Mom if She has a Will
My mother told me many times over the years that she had a will, and I believed her. When she passed away, we discovered that her will was 40 years old—and completely useless.
The Difference between Revocable and Irrevocable Trust
A trust is an estate planning tool you may consider using if you want to go beyond drafting a last will and testament.
How Can I Choose an Estate Planning Lawyer?
Planning for the future provides protection and peace of mind, making it increasingly important to seniors as they approach their twilight years.
