In 2024, the federal estate tax ranges from 18% to 40%, depending on how much the value of the estate exceeds the current exemption limit of $13.61 million.
Once your cognitive abilities begin to decline (which can start in your early 60s), your accounts could be at risk. Here’s how to protect them.
Estate planning might sound like something for wealthy people with huge beach houses and billions in the bank. However, the truth is that estate planning is something we all need to think about to protect ourselves and loved ones.
Estate planning isn’t just for the elderly or the wealthy. Find out why young adults must start their estate planning early and what documents they should include.
The most important part of your estate plan isn’t about taxes, investments, gifts, or other financial issues.
If the strategy is executed properly, an individual can disclaim interest in an inherited IRA and avoid any of the gift and income tax consequences associated with receiving the property.
Minor children and young adult beneficiaries in particular need more specialized provisions to protect both the assets and the beneficiaries.
Learn the critical reasons why a will alone is insufficient for a comprehensive estate plan, and why incorporating trusts, beneficiary designations and incapacity planning is essential to ensure a seamless and protected transfer of your assets to your loved ones.
Establishing an incapacity plan is crucial in estate planning. Learn how to protect your finances and make your wishes known in our comprehensive guide.
An estate plan lays out how you want your assets handled at your death or when you’re physically or mentally incapacitated. No wonder most people procrastinate creating one.
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