Although Alzheimer’s disease is not new, the rate at which people are being diagnosed with the disease is something we have never seen before in the United States. Understandably, anyone who is middle age or older likely harbors some fear of developing the disease. If you (or a loved one) were recently diagnosed with Alzheimer’s, you are probably experiencing a range of heightened emotions. Sometimes it helps to focus on what you can control instead of what you cannot. Toward that end, the … [Read more...]
State Income Taxation of Nongrantor Trusts
States are all over the board in their taxation of income. This is doubly true when it comes to the taxation of nongrantor trusts. By using nongrantor trusts, you could avoid the state income taxation of property in that trust. Read on to learn more.State Income Taxation of Nongrantor Trusts … [Read more...]
State Income Taxation
States are all over the board in their taxation of income. Some tax at a low rate, some tax at a high rate, and some don’t tax at all. Read on to learn more about state income taxation and how you could avoid it.State Income Taxation … [Read more...]
SALT Deduction Limit…Can You Get Around It?
The Tax Cuts and Jobs Act increased the standard deduction amount. However, it also limited itemized deductions for state and local taxes (SALT) on the federal income tax return. Read on to learn what works (and what doesn’t work) to maneuver around the $10,000 SALT limitation.SALT Deduction Limit…Can You Get Around It? … [Read more...]
6 Important Estate Planning Considerations – Part 4: Beneficiary Designations
Beneficiary designations can be a simple way to pass assets at death. While beneficiary designations avoid probate, they may introduce other problems. This article shows how a revocable trust can provide a more flexible way to achieve a client’s goals.6 Important Estate Planning Considerations – Part 4: Beneficiary Designations … [Read more...]
Planning to Avoid Too Much SALT
The new tax law brought a cap of $10,000 on federal deduction for state and local taxes. People are trying different ways to get around the cap. Some of the ways work and others could land you in hot water. Read the article to find out more.Planning to Avoid Too Much SALT … [Read more...]
5 Reasons to Include a Living Trust in Your Estate Plan
Your very first estate planning document was likely a Last Will and Testament. Although you will undoubtedly continue to rely on a Will within your estate plan, as your family and your estate grow you will need to incorporate additional tools into your estate plan in order to achieve a widening circle of goals. Among the most common of those additional tools is a living trust. While there are a seemingly endless number of reasons why you might want to include a living trust in your estate plan, … [Read more...]
Estate Planning is About More Tan Taxes
Estate Planning addresses many concerns, not just taxes. It can protect beneficiaries from their own creditors, provide divorce and remarriage protection, and protect the benefits of children with special needs. Learn more about how Estate Planning can help protect your beneficiaries by providing privacy and other benefits.Estate Planning is About More Tan Taxes … [Read more...]
Planning for the International Client
Estate planning for the international client can be tricky. This article looks at the estate tax treatment of U.S. citizens and non-resident aliens. The article then looks at an example of someone who lived in the U.S. and then departed.Planning for the International Client … [Read more...]
6 Important Estate Planning Considerations – Part 6: Taxes
An estate plan considers many important aspects. One of the many aspects to consider is the impact of taxes. This article examines some of the many ways consideration of taxes might impact an estate plan.6 Important Estate Planning Considerations – Part 6: Taxes … [Read more...]
