It’s hard for a family to recuperate when the patriarchs and matriarchs have gone to glory, leaving a battle for who will carry the family’s leadership role and manage the family’s transition of wealth.
The [Florida] Legislature has agreed to create greater transparency in the guardianship process, a top recommendation of the Guardianship Improvement Task Force.
In 2022, the annual exclusion for Federal Gift Taxes increased to $16,000 per person per year. Although there is near-universal acceptance of the importance of gifting, there are several issues you should consider before making any gifts.
It’s an important task that is easy to procrastinate. However, here is why you shouldn’t:
My dad is investing in cryptocurrency! I know nothing about it and, frankly, I am not interested in learning. I think it is a passing fad. When he dies and I am responsible for the distribution of his estate to my siblings, do I need to address the crypto?
Given their salaries and the chances of getting sued, physicians should strongly consider estate planning early in their careers.
Children and grandchildren motivate us to think about a will and life insurance. However, it is problematic to name minor children as beneficiaries.
In order to give your brother half of the assets in the IRA, you will have to liquidate a portion of the account and pay the taxes on the liquidated amount if it’s a traditional IRA.
Reaching the point where you need to consider residential options for your mother can be overwhelming. Not only is it emotionally fraught, there are also financial and legal considerations.
A charitable trust allows you to donate assets to a chosen tax-exempt charitable organization or nonprofit and comes with certain tax benefits to help you minimize what you might owe to the government.