By John Even | Published February 28, 2018 | Posted in Estate Planning | 2 Comments
By now, everyone has heard about the New Tax Act and how it will impact your family’s income taxes in 2018. However, the New Tax Act also made significant changes to the federal estate tax laws. Most importantly, the so-called single exclusion amount (which I usually refer to as the estate tax exemption amount) increased Read More
Read MoreLet me paint the picture. You are in your 60’s or early 70’s after having working the last 20-30 years building up a successful family business and you are trying to figure out a way to slow down and enjoy some of the fruits of your labor. Some of your family members work in the Read More
Read MoreRecently, my son graduated from high school, and, after a few trips with his friends this summer, he will be heading off to college in the fall. In addition to getting him all up to date with his dental work and eyeglass prescription and purchasing some new clothes and other items for his college dorm Read More
Read MoreI hope that you and your family have a wonderful Christmas holiday! Before the end of the year, there are two charitable giving opportunities that I wanted to bring to your attention from a tax perspective. First, if you have an IRA and you are interested in giving some of the IRA to charity this Read More
Read MoreWith Alzheimer’s and dementia becoming more and more prevalent these days, more and more clients are asking me how to plan for incapacity in case they develop one of these devastating diseases. In addition, you may have your documents in place to plan for an incapacity, but your parents or other loved ones may need Read More
Read MoreWhen I meet with clients, I get asked this question all the time. In general, there are lots of great reasons for having a living trust, but trusts are not for everyone, and you will need to examine your personal situation to make sure that a trust makes sense for you and your family. Is Read More
Read MoreAfter my clients have signed their wills or trusts, they usually ask me how often they need to have them reviewed and possibly updated. In general, the answer varies depending on the complexity of their estate and other factors in their family. However, I generally tell people that it is a good idea to have Read More
Read MoreFor many of my clients who own businesses, their business is the largest asset in their estate. Yet, many of them fail to plan for this important asset. For family-owned businesses, there is generally one simple choice that the owners must face regarding their business – should we pass the business onto our children or Read More
Read MoreLast Saturday, we all celebrated Valentine’s Day with our loved ones. Like other special holidays and birthdays during the year, it is a great time to tell your family members that you love them and how much they mean to you. One of the best Valentine’s gifts that you can give to your spouse, your Read More
Read MoreToday is income tax day. So probably the last thing you want to hear about is estate taxes, right? However, there are a lot of misconceptions about estate taxes, and I wanted to take just a few minutes to clear them up and help you understand estate taxes better. What is Estate Tax? Estate tax Read More
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