New Year, New Plan?

February 2, 2021 Since 2012, the lifetime exemption amount that every individual can transfer free of estate tax during their life or at death has increased, not only through congressional action but from inflation adjustments coming every January like a New Year’s gift. For the 2021 tax year, the number now stands at $11.7 million … Continued

Initial Steps to Take for Widows

The death of a spouse can be one of the most stressful events you’ll ever experience. Even if it is expected after a long illness and you’ve left nothing unsaid, it can be a time of great sadness and mourning. Unfortunately, for many surviving spouses, the pain can be compounded by the stress of decision … Continued

You Established a Trust! But Did You Properly Fund It?

Many years ago, I was meeting with some new clients: a married couple in their 50’s with several million dollars in assets. They’d provided copies of their brokerage account statements for two IRAs and a joint account for me to review. I asked if they’d done any estate planning and they enthusiastically answered, “Yes!”, clearly … Continued

Estate Planning Basics: Things to Consider

Estate planning is much more involved and offers more benefits than simply a plan to reduce your tax bill.  In addition to issues that affect your family and control of your assets after your death, estate planning must also account for prevailing legislation that governs estates.  For example, the American Taxpayer Relief Act of 2012 … Continued