If you’re a small business owner, you probably don’t have a minute to spare in your busy workday, especially if you’re struggling to recover after a turbulent 2020. Estate planning may be one of the last things on your mind. ...more
If a person is in line to inherit property from a parent or other loved one, it’s critical to understand the basis consistency rules. Tax law provides that the income tax basis of property received from a deceased person...more
2/5/2019
/ Estate Planning ,
Estate Tax ,
Fair Market Value ,
Gift Tax ,
Inheritance ,
Inheritance Tax ,
Internal Revenue Code (IRC) ,
IRS ,
Property Valuation ,
Real Estate Transfers ,
Reporting Requirements ,
Step-Up Basis
The Tax Cuts and Jobs Act provides greater flexibility in estate planning for many taxpayers. So, no more estate tax worries for most people, right? Not so fast. For residents of some states, state estate or inheritance taxes...more
It’s almost impossible to fully prepare for a spouse’s sudden death, but it helps to keep one’s finances organized and communicate with a spouse about these matters. This article offers points to address in the event a spouse...more
2/8/2018
/ Commercial Insurance Policies ,
Death Certificates ,
DMV ,
Estate Planning ,
Estate Tax ,
Income Taxes ,
Individual Retirement Account (IRA) ,
Inheritance Tax ,
Investment Funds ,
Notification Requirements ,
Retirement Plan ,
Social Security Administration (SSA) ,
Surviving Spouse
If plans call to relocate to another country after retirement, be aware that they may be tarnished if a person doesn’t look into all potential estate tax and income tax implications first. This brief article explores three...more
In This Issue:
- The BDIT: A trust with a twist
- Thanks, Grandma and Grandpa! 3 estate-planning-friendly strategies to pay for a grandchild’s college education
- Power of attorney abuse: What can you do...more