When a person passes away, the deceased’s assets are subject to federal estate tax if the total value of their estate exceeds a certain threshold. The lifetime exclusion, also known as the estate tax exemption, is a tax provision that allows individuals to pass on a definite amount of wealth to their heirs without being Read the full article…
Anyone can disclaim a part of their inheritance. By doing so, it would go to the successor’s heirs as if the beneficiary had predeceased the decedent. But what if the beneficiary doesn’t want that bequest to go to their children, and instead, a favored niece or nephew? Is it possible to do that? The simple answer is Read the full article…
We often get questions about what to do when a person wants to give up their authority over their personal and financial life. If they do not already have a Revocable Living Trust that provides for a transfer of that authority, then the next best thing is a Power of Attorney (POA). The person who Read the full article…
As one annually services their automobile for an oil change and routine maintenance, it is also prudent to review your trust to confirm that your original documents are consistent with your wishes. At a minimum, one should look at the following provisions of their trust to determine if any changes are required: Successor Trustee – Read the full article…
