Are 529 Plans Part of Your Estate?
June 21, 2021
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People tend to think of ‘529’ education-savings plans as an excellent way to save and invest tax-free for college or schooling costs, and they are.
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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.
What Is a Holistic Estate Plan?
May 20, 2021
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No one can predict the future—and navigating that reality is precisely what makes estate planning so complicated.
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.
What Could the Proposed Estate Tax Bills Mean?
April 23, 2021
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The For the 99.5% Act reduces the estate tax exemption to $3.5 million per individual and $7 million per couple. The bill adds higher tax brackets for larger estates.
What are the Big Tax Penalties to Avoid in Retirement?
April 21, 2021
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Protecting a nest egg is tough enough. Don’t make the situation far worse.
What’s Happening to the Estate Tax?
April 5, 2021
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Under current rules, the federal estate tax won’t ever affect you, unless you’re quite wealthy. However, that could change rapidly, even if you are far from rich.
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