The use of tax avoidance principles while transferring wealth is a smart way to protect your heirs from excessive taxes. Still, it requires careful planning and oversight to ensure techniques don’t cross the line to tax evasion. Assessing tax options…
Special needs individuals can take advantage of several programs and services offered by the federal government. These programs are vital to parents and guardians supporting loved ones with disabilities. Parents raising children with special needs require nearly twenty percent more…
Legal disputes arising during the probate process, the legal process of administering a deceased person's estate, are known as probate litigation. When someone passes away, their assets and debts must be settled and distributed according to their valid will or…
The number of Americans who are widowed or divorced has reached record levels, causing new partnerships to form among older Americans. The US Census Bureau reports that more than half of all older adults have only married once, opting to stay legally…
There are many people who use trusts, not just the wealthy. In addition to serving many purposes, they address specific problems that are less concerned with wealth, and put the focus more on family dynamics. Do you want to keep…
For high-net-worth families, many legal strategies are employed to preserve wealth and minimize taxes. However, tax laws continually change and can impact new and existing estate plans. For example, the SECURE and SECURE 2.0 Act presents some challenges and opportunities…
In estate planning and wealth transfer, people sometimes seek strategies that preserve their assets as well as provide them with financial benefits for life. One such strategy is the grantor-retained income trust (GRIT). GRITs offer a unique opportunity for individuals…
Most young parents are not concerned about death or serious illness or injury. As unlikely as such a serious event is when we are young, it is a possibility. This is why we pay for medical insurance, disability insurance, and…
Adults rarely create wills, let alone estate plans that address their online profiles. As your online presence grows professionally and personally, taking charge of your digital assets and plans for them after you die becomes important. Some social media companies…
Often, trust funds are referred to as something that is owned by a beneficiary. Some may believe that only wealthy people have trusts, but they are common and useful tools when creating estate plans of all sizes. They are used…