As another tax season closes, it’s a good time to review the list of “Dirty Dozen” tax schemes published by the Internal Revenue Service for the year. Many of these schemes peak during tax time and involve fraudsters looking for ways to steal … [Read more...] about The IRS’ Annual Warning: The 2023 Dirty Dozen
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The Joy in Joint Trusts
Joint trusts offer clients many benefits both during life and after death. Those with joint trusts need to understand the limitations inherent in the trust and the importance of seeking qualified counsel upon the death of the first spouse to ensure … [Read more...] about The Joy in Joint Trusts
How Tax and Non-Tax Considerations Impact Estate Planning – Part II
People often believe that Estate Planning is a “simple” process designed only for those whose estates will exceed the Applicable Exclusion Amount of $12.92 million in 2023. That myopic view causes many who should undertake Estate Planning to skip it … [Read more...] about How Tax and Non-Tax Considerations Impact Estate Planning – Part II
Probate Orphans: Establishing Guardianship For Minors During Estate Planning
This article will help families deal with an important, but too often neglected, reality of estate planning: thinking ahead to what might happen to their children should the parents pass away before they are of age. It includes the discussion … [Read more...] about Probate Orphans: Establishing Guardianship For Minors During Estate Planning
How Tax and Non-Tax Considerations Impact Estate Planning – Part I
Estate planning often focuses on taxes at the federal level and often overlooks issues that occur at the state level. For anyone desiring to undertake comprehensive estate planning, it’s important to understand the impact that the taxes imposed by … [Read more...] about How Tax and Non-Tax Considerations Impact Estate Planning – Part I
How to Pre-plan Your Funeral as Part of Your Estate Plan
As citizens of a culture that worships youth, most of us find it nearly impossible to admit our own mortality, much less make plans for that eventuality. Denial, however, offers no protection from the inevitable. As it turns out, we have far more to … [Read more...] about How to Pre-plan Your Funeral as Part of Your Estate Plan
What happens to sentimental items when you die?
Estate planning involves a lot of decisions around how you want your assets to be handled once you pass. While many people think of assets with a lot of financial value, like investment accounts and real estate, there are other assets that are … [Read more...] about What happens to sentimental items when you die?
The 4 Main Obstacles to Digital Estate Planning
IoT (Internet of Things) has become increasingly important to everyday life, and managing our digital assets is paramount. From smart home devices to online investments and bank accounts, we’ve gone way beyond using the internet to email family and … [Read more...] about The 4 Main Obstacles to Digital Estate Planning
Financial Abuse and Elder Fraud: Watch for the Signs
According to the National Council on Aging (NCOA), Americans lose between 2.6 and 36.5 billion dollars in assets and money each year to elder financial fraud and abuse. And although self-reported financial exploitation occurs at higher rates … [Read more...] about Financial Abuse and Elder Fraud: Watch for the Signs
How to Qualify for Medicaid: A Five Year Look-Back Without Penalties
Almost everyone will need long-term care at some point in their lives, so planning is essential. While we cannot predict the timing or level of care, we can take steps to prepare for an unexpected medical and financial crisis to help reduce the … [Read more...] about How to Qualify for Medicaid: A Five Year Look-Back Without Penalties
