With a draft bill from the House Ways and Means Committee on the table, all signs suggest that higher income taxes could be right around the corner. How they will affect charitable giving remains to be seen.
No one relishes the thought of the day they pass away and leave all their worldly possessions behind. However, it’s a certainty that no one can avoid. Thankfully, you have options for planning for what happens to your estate, including a will or a family trust.
Over the next 25 years, analysts anticipate $68 trillion to be passed down to younger generations and charities. While the importance of legacy planning is not limited to the forthcoming Great Wealth Transfer, it does spotlight the significant amount of wealth that has been created, primarily by Baby Boomers, and the need to transition these assets thoughtfully.
Individuals buying a home, adopting a child, completing estate planning documents, such as wills and advanced health care directives, or completing any number of legal procedures may find themselves in need of a notary.
If you want to protect your family’s legacy from unnecessary taxes, divorce and creditors over the course of many generations, a dynasty trust could be your best friend.
Despite the pandemic, many Gen Z’ers are graduating from college and setting their course for success. This is a generation of young people who know what they want out of life and have the financial literacy tools – from podcasts to online platforms – to save for retirement, maximize their savings and achieve their goals.
When there is a large inheritance at stake (or even when there isn’t), it is a great idea to get everyone on the same page. A family meeting can make that happen, and it can even be enjoyable.
Major changes in your life—such as marriage, having a baby, moving out of state, or divorce—should prompt a revisit to your current will. It is important to revise your will at these times, in order to ensure your estate planning is up to date.
A Florida man is taking advantage of the finances of his multi-millionaire cousin — who suffers from dementia — in an attempt to squeeze out his wife and minimize her inheritance, a new lawsuit claims.
Do my husband’s minor children from a prior marriage have any rights to any marital assets acquired during our marriage in the event he dies before me?