estate planning

Share Your Values With the Use of an Incentive Trust

Investor Warren Buffett once said that the ideal inheritance is “enough money so that they feel they could do anything, but not so much that they could do nothing.” Indeed,…

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Even single people without children need an estate plan

Estate planning is important for everyone. This is equally true for single individuals without children. While the law makes certain assumptions involving a married couple regarding financial and medical decisions…

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Complementary documents: An estate plan benefits from a living trust and a pour-over will

A primary reason people want to keep their assets out of probate is because it’s a public process. It can also be time consuming and costly. A living trust is…

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Steer clear of these 5 estate planning pitfalls

Most people recognize the need for an estate plan. Among many other things, your plan can help ensure your family will be taken care of per your wishes after your…

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Who are your beneficiaries? Outdated beneficiary designations can sink your estate plan

“Nonprobate assets” are those that bypass more traditional estate planning vehicles, such as a will or revocable trust. Instead, they’re transferred to family members through beneficiary designations. Nonprobate assets can…

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tax tips

Tax Tips: January/February 2023

Now may be the time for a Roth conversion If you’ve watched the value of your retirement accounts shrink in recent months, there may be a silver lining: It’s an…

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Estate income tax planning

Your estate plan: Don’t forget about income tax planning

As a result of the current estate tax exemption amount ($12.06 million in 2022), many people no longer need to be concerned with federal estate tax. Before 2011, a much…

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power of attorney

Complete Your Estate Plan by Adding a Power of Attorney

As you create your estate plan, your main objectives likely revolve around your family, both current and future generations. Your goals may include reducing estate tax liability so that you…

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letter of instruction

In Your Own Words: A Letter of Instruction Complements a Will

A smart estate plan should leave no doubt as to your intentions. Writing a letter of instruction can go a long way toward clearly communicating all of your thoughts and…

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dynasty trust

Perfect Timing: Why Now is as Good a Time as Any to Create a Dynasty Trust

A dynasty trust can preserve substantial amounts of wealth — and shelter it from federal gift, estate and generation-skipping transfer (GST) taxes — for generations to come. Leveraging your GST…

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