Using 529 Plans in your Estate Plan

Tax Cuts and Jobs Act expands appeal of 529 plans in estate planning It’s common for grandparents to want to help ensure their grandchildren will get a high quality education. And, along the same lines, they also want the peace of mind that their wealth will be preserved for their children and grandchildren after they’re gone. … Continued

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How the New Tax Law Impacts You

Tax Cuts and Jobs Act: Key provisions affecting estate planning The Tax Cuts and Jobs Act of 2017 (TCJA) is a sweeping revision of the tax code that alters federal law affecting individuals, businesses and estates. Focusing specifically on estate tax law, the TCJA doesn’t repeal the federal gift and estate tax. It does, however, … Continued

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Charitable Giving – Will Your Charity Accept?

Will your favorite charity accept your donation? If your estate plan includes charitable donations, be sure to discuss any planned gifts with the intended recipients before you finalize your plan. This is particularly important for donations that place restrictions on the charity’s use of the gift, as well as donations of real estate or other … Continued

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Planning for Incapacity

Properly planning for incapacity requires specific estate planning strategies Most estate plans focus on what happens after you die. But without arrangements for what will happen in the event you become mentally incapacitated, your plan is incomplete. If an accident, illness or other circumstances render you unable to make financial or health care decisions — and … Continued

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Questions to Ask When Naming a Trustee

Appointing the right trustee for your living trust provides peace of mind A living trust is a cornerstone of many estate plans. During your life, you can serve as the trustee and manage the assets just as you would if you owned them outright. However, you must choose a trustee to oversee and administer the trust … Continued

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Remember Pluto in Your Plan – Pet Trusts

Address your pet in your estate plan using a pet trust If you’re an animal lover, a pet is a member of the family — sometimes even more so than flesh-and-blood. So you want to ensure that your beloved pet is cared for after you’re gone. One way to do so is to make provisions … Continued

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End of Year Gifts

Make the holidays bright for you and your loved ones with annual exclusion gifts As the holiday season quickly approaches, gift giving will be top of mind. While gifts of electronics, toys and clothes are nice, making tax-free gifts of cash using your annual exclusion is beneficial for both you and your family. Even in … Continued

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How Proposed New Tax Laws May Impact You

Tax reform and estate planning: What’s on the table As Congress and President Trump pursue their stated goal of passing sweeping new tax legislation before the end of the year, many taxpayers are wondering how such legislation will affect them. One area of particular interest is estate planning; specifically, the future of gift, estate and … Continued

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Naming a Guardian

Who should be the guardian of your minor children? If you have minor children, arguably the most important estate planning decision you have to make is choosing a guardian for them should the unthinkable occur. It’s critical to put much thought into this decision to ensure your children would be cared for as you wish … Continued

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Funding a Revocable Trust

Have you properly funded your revocable trust? If your estate plan includes a revocable trust — also known as a “living” trust — it’s critical to ensure that the trust is properly funded. Revocable trusts offer significant benefits, including asset management (in the event you become incapacitated) and probate avoidance. But these benefits aren’t available … Continued

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