Securing the Legacy of Your Small Business Creating an estate plan tailored to your business ensures continuity and financial security for everyone involved. Whether you want your family to continue building your legacy, your partners to buy your shares...
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Survivorship Life Insurance: The Two-for-One Deal Survivorship life insurance, also known as second-to-die joint life insurance, covers two people on a single policy. These policies only pay out their death benefits after both policyholders have died. Say you and...
Stepped-Up Basis: How It Affects Inherited Assets An asset’s basis is its original purchase price, which determines how much tax will be owed when the asset is sold. When an asset is inherited, the so-called stepped-up basis resets this...
Why Young Families Need an Estate Plan—Now, Not Later Estate plans may seem like a domain for older individuals, but they are an essential planning tool for every family. For families, the most important question is who will raise...
Trusts Versus Wills: What’s Right for You? A will is a legal document that takes effect after your death. It specifies how you want your assets distributed and allows you to name a guardian for minor children. Wills must...
Estate Planning With Blended Families A blended family often brings joy — there are more people to love and be loved by. As your family expands, you will want to provide for each child, whether from the previous or...
Common Living Trust Problems Most living trusts (also known as revocable or grantor trusts) have two administrative phases. In the first phase, you administer the trust. In the second phase, after your death, the named trustee takes over its...
Who Needs a Trust — and When A will is an important way to distribute your assets, financial and otherwise. One major limitation of a will is that you have to die before it can become effective; in other...
Exploding Some Estate Tax Myths If you own property and assets or have loved ones who depend on you to provide income or care, you should have an estate plan. However, some people hesitate to create one, fearing that...
It is somewhat unusual to highlight 2026 taxes in 2024, but we are in an unusual situation: Many of the provisions in 2017’s Tax Cuts and Jobs Act will expire at the end of 2025 unless Congress acts to...