We all know that we should create an Estate Plan, yet so many of us procrastinate in undertaking such an important task. Creating an Estate Plan represents a simple, yet effective way to provide comfort and stability to your family upon your death by ensuring that your assets pass in the way that you want to whom you want. Unfortunately, so many encounter a tragedy or crisis before prioritizing their Estate Plan, sometimes it is too late. As headlines often remind us, even those with significant … [Read more...] about The Importance of Having an Estate Plan
Most taxpayers understand that to receive the benefit of charitable deductions, they need to itemize their income tax deductions. Creating a charitable giving strategy can be a great way for taxpayers to save on taxes while benefiting their community. Certain techniques can be used in conjunction with others to maximize the benefit of charitable giving. Read on to learn more. … [Read more...] about Tis the Season for Giving
Planning is important for your income taxation during life as well as for any estate tax at death. Even though 2023 is just starting, it’s not too early to think about planning for whatever it may bring your way. Read on to learn more. … [Read more...] about Tax Planning for 2023
As inflation continues to rise, more and more individuals seek ways to stretch their dollar further. One of the many factors to consider is their overall tax burden. Sometimes, simply moving to another state, if otherwise feasible, can make a significant impact on an individual’s bottom line. Wonder how your state measures up? Read on to learn more. … [Read more...] about Now That Mid-Terms Are Over, Let’s Talk Taxes
What’s an “Assignment and Nominee” agreement and what does it do? Some attorneys use such an agreement as a belt and suspenders approach to funding. Read on to learn more. … [Read more...] about Assignment and Nominee
Irrevocable trusts often can be modified. They can be modified under the Uniform Trust Code or a state law decanting. While these modifications may be determinative of the state law consequences, they may not determine federal tax consequences. Read on to learn more. Consequences of Modifying an Irrevocable Trust … [Read more...] about Consequences of Modifying an Irrevocable Trust
When you think about creating your Last Will and Testament you likely think about all the decisions you will need to make related to the distribution of your estate assets. What you may not be thinking about is who to appoint as the Executor of your estate. Like most people, you may simply fill in the name of a spouse, family member, or close friend as the Executor in your Will without giving the matter much thought. To encourage you to choose carefully, the Kirkwood estate planning attorneys at … [Read more...] about What Are the Duties and Responsibilities of an Executor?
A Generation-Skipping or “GST” trust can be a good way to keep assets out of the taxable estate of a beneficiary and yet still allow them to be used for the beneficiary’s benefit during life. Read on to learn more about this type of trust and whether it might make sense for you. What is a GST Trust? … [Read more...] about What is a GST Trust?
For most people, a Last Will and Testament is the first estate planning document they create. In fact, it may be the only estate planning document they create for some time. Whether your Will serves as your entire estate plan, or just the foundation of a more elaborate plan, care should be taken to avoid making mistakes. The St. Louis estate planning attorneys at Amen, Gantner & Capriano, Your Estate Matters, LLC have put together a list of the most common mistakes people make when making a … [Read more...] about Common Mistakes When Making a Will
If you have yet to create an estate plan, you are hardly alone. Over half of all Americans do not have even a simple plan in place, despite acknowledging the need for one. Like many of those people, you may have put off creating your estate plan because you are not aware of all the benefits an estate plan offers. A better understanding of exactly what an estate plan can do for you may encourage you to finally get started on your plan, Estate Planning Components Estate planning is a highly … [Read more...] about What Can an Estate Plan Do for You?