Tag: Estate Planning

Tax planning is only a small component of estate planning and usually not even the most important one for most people. The primary goal of estate planning is to protect

If you own your principal residence, you’re likely aware that you can benefit from the home’s build-up in equity, realize current tax breaks, and pocket a sizable tax-exempt gain when

Surviving spouses are faced with many financial and tax-related decisions. One important issue to consider is whether or not to file a joint tax return in the year of the

Life insurance can be a powerful estate planning tool. Indeed, after you’re gone, it creates an instant source of wealth and liquidity to meet your family’s financial needs. And to

In 2019, a tax law change essentially ended “stretch IRAs” by requiring most beneficiaries of inherited IRAs (other than a spouse) to withdraw all of the funds within 10 years.

Taking into account your family members’ needs after your death is difficult when planning your estate. Because after you’re gone, events may occur that you hadn’t anticipated or couldn’t have

Getting divorced and dividing assets is no small feat.  The transfer of assets in a qualified retirement plan to a nonparticipant spouse without facing severe tax consequences can be achieved

When it comes to your 401(k) plan, you may have a choice to make regarding contributions: pre-tax (traditional) or after-tax (Roth). The optimal choice depends on your current tax situation,

When creating estate plans, people typically factor in their children and grandchildren and plan accordingly. For those who would like to plan beyond the future two generations, leveraging a dynasty trust

On one hand, you want your estate plan to achieve certain “technical” objectives, which may include reducing gift and estate taxes and protecting your assets from creditors’ claims or frivolous