Married couples often assume during estate planning that simply naming each other in their wills or designating each other as beneficiaries is sufficient. However, unintended consequences can result if you
It’s not uncommon for an estate plan to contain multiple trusts. They can enable you to hold assets for and transfer them to beneficiaries, avoid probate, and possibly reduce estate
Members of the sandwich generation — those who find themselves simultaneously caring for aging parents while supporting their own children — face unique financial and emotional pressures. One often overlooked,
If you’re considering making asset transfers to your grandchildren or great grandchildren in your estate plan, be sure to address the federal generation-skipping transfer (GST) tax. This tax ensures that
“Decanting” an irrevocable trust allows a trustee to use their distribution powers to transfer assets from one trust into another with different, often more favorable, terms. Much like decanting wine
When it comes to estate planning, many people struggle with the important decision of whether to share the details of their plans with family members. There’s no one-size-fits-all answer —
For 2025, the federal gift and estate tax exemption amount is $13.99 million, which means most people won’t be liable for these taxes. However, capital gains tax on inherited assets
If your estate planning goals include distributing your wealth while also encouraging specific behaviors or achievements among your heirs, using an incentive trust may be the right addition to your
It’s common for parents to leave their primary residence or a vacation home to their children when planning their estate. While your parents’ wills or trusts may specify who gets
You may be wondering whether you’re required to file a gift tax return if you’ve given a significant financial gift to a family member. Even if no tax is due,
