As an estate planning attorney, I frequently encounter clients uncertain about the distinctions between grantor and non-grantor trusts. These types of trusts are fundamental in estate planning, offering various benefits and implications, particularly in tax planning and asset management. This article will discuss the key differences between…
The federal gift, estate, and generation-skipping transfer (GST) tax exemptions and the annual exclusion from gift tax are historically high due to a temporary increase under the Tax Cuts and Jobs Act.
Estate planning involves both trust funds and wills to help ensure the smooth transition of assets to your beneficiaries.
In my experience, estate planning is one of the areas of personal finance with the most widespread confusion. Unfortunately, this can lead to costly mistakes in time, money and stress on people’s families.
Even though the death of a loved one comes with unbearable grief, there are important tasks you must carry out as soon as you’re able.
An estate plan can give you peace of mind that things you value will be distributed according to your wishes when you die.
The agency has curbed the tax break on a particular kind of trust that is often used to minimize capital gains taxes.
One of the most significant changes Americans will soon see is the sunsetting of tax laws under the Tax Cuts and Jobs Act (TCJA) of 2017.
Joint accounts may seem like an effective way to prepare if parents need help with finances as they get older, but unexpected problems could crop up.
President Joe Biden is proposing a series of tax increases on investors and top-earning Americans in his annual budget request to Congress.
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