Plan Carefully before Taking Out Retirement Funds
September 28, 2021
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If you think saving for retirement is complicated, try figuring out how to withdraw retirement funds while minimizing taxes.
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Do QTIP Trusts Help avoid Estate Taxes?
June 28, 2021
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Right now, gifts to trusts can take advantage of high tax exemptions and remove future appreciation of assets from taxable estates. One example available to spouses is making a gift to a trust that allows for a qualified terminable interest property (QTIP) election.
What are Top ‘To-Dos’ in Estate Planning?
June 25, 2021
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The biggest misconception people have about estate planning is that “they are not that old and can do it later,” say almost half (49%) of advisors in a recent Key Private Bank Advisor Poll on estate planning. Yet, the majority (73%) of advisors say the ideal age to start putting an estate plan in place is before 40—earlier than many people think.
Should I Include an Annuity in Estate Planning?
June 16, 2021
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Not all annuities are alike, and some may not be appropriate for you. How much do you know about these investment products?
What Does the President’s Tax Plan Mean for Estate Planning?
June 1, 2021
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Wealthy families could face combined tax rates of as much as 61% on inherited wealth under President Joe Biden’s tax plan, according to a recent analysis.
What Is the Tax-Law Exception for 529 College Plans in 2021?
May 24, 2021
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Under a tax-law exception this year, clients can make a lump-sum 2021 gift of up to $75,000 to fund a 529 college savings account for a child or grandchild (or any other college-bound individual) and claim a federal gift tax exclusion for the full amount.
Can Estate Taxes Be Avoided with a Trust?
May 21, 2021
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The estate tax exemption raised by the Tax Cuts and Jobs Act will sunset in five years—possibly sooner, as the new Congress gears up for a Biden tax overhaul.
Who Inherits from Prince Philip?
May 20, 2021
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Who will inherit what from the Duke?
Inheritance and Gift Tax Changes in 2021?
May 14, 2021
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Facing down an uncertain election outcome and the possibility of tax reform in 2021, many families started transferring substantial amounts of wealth last year, making large gifts to take advantage of the historically high gift and generation-skipping transfer tax exemptions.
How Does an Inherited IRA and 401(k) Work?
May 5, 2021
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So, you inherited a retirement account. Before you make any decisions on when and how to access the money, it’s worth familiarizing yourself with the rules that apply to different beneficiaries.
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