Thinking about what happens to your family when you pass away may be upsetting. However, it can be a good way to reduce the stress your loved ones will deal with during the grieving process.
People often overlook critical steps when they are doing their estate planning.
We’re all looking to save taxes, court costs, legal fees and ‘make it simple’ for our heirs. A last will and testament is the cornerstone of all estate planning, maybe with a trust.
Research shows that most of these executors aren’t experts and struggle with the estate settlement process.
One goal of estate planning is to bring some certainty to a multitude of variables. Recent increases in inflation, interest rates and market volatility, however, are causing some experts to reassess their options.
One of the biggest challenges that clients encounter during the process is deciding who to appoint as their trustees, powers of attorney, health care surrogates and executors.
Doing some ‘upstream’ planning now will take the guesswork out of what’s coming your way.
Because once 2026 arrives, many of the tax adjustments that were part of the 2017 Tax Cuts and Jobs Act (TCJA) are expected to expire.
Rising interest rates may be nice for boosting savings accounts, but they’re unkind to credit card balances. Older Americans, especially those on a fixed budget, should beware.
As a kid reaches 18, they’re an adult in the eyes of the law. Therefore, your parental authority no longer exists and in turn you can lose access to information.
