Does Potential IRS Change Have an Impact on Estate Plan?
The IRS is weighing a change that could leave your heirs poorer than you might hope.
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The IRS is weighing a change that could leave your heirs poorer than you might hope.
If you’re married, you may be wondering what happens to your assets once you or your spouse passes. The answer to that question depends on various factors, including whether or not you have a marital trust.
All couples can now take advantage of tax benefits for married partners, pass assets from one spouse to another with ease and qualify for Social Security spousal and survivor benefits. However, not all couples want to get married.
Perhaps the largest number of people who may benefit from asset protection planning are those who are at most mildly concerned about asset protection issues, or not even aware of the need for such planning.
When combining finances as a new family, there’s lots to consider. To make the best choices, here are six key areas to plan ahead and consider.
Trusts could be an incredibly powerful tool to help business owners protect their business and reach their wealth goals.
Higher rates mean a lower lump sum. You are discounting of a stream of future payments.
Special needs trusts can help fund quality-of-life improvements for the beneficiary, such as a phone, a trip or a private room in a group care facility.
What investment powers does a personal representative in a probate or a trustee in a trust administration have to manage the decedent’s assets?
So, what happens with your estate plans if you are not in a traditional nuclear family? There is quite a lot that can fall under the umbrella of a non-traditional family, and the recommendations will vary depending on your specific circumstances.
