The new omnibus budget bill sets the federal estate-tax exemption at $15 million for the next year and provides for the threshold to remain permanently high—but that does not take estate planning off your to-do list.
An inheritance often is seen as a financial windfall. However, there are times when people may want to consider saying thanks, but no thanks.
Inheriting a home with an outstanding mortgage adds financial and legal responsibilities that heirs must address quickly and carefully.
It’s a mistake that’s shockingly common among affluent families. It doesn’t make headlines. However, it does trigger massive tax bills—and it’s costing heirs millions every year.
As the baby boomer generation ages, they will pass savings and assets on to their children, grandchildren and charitable organizations.
Estate planning may not be at the top of anyone’s list of fun family activities. However, it can be an opportune time to discuss what’s best for the shared family home.
How can I organize my estate so there is little or no potential for my will to be contested?
A truly fair inheritance isn’t always about giving each child the same amount—it’s about making thoughtful decisions that reflect each heir’s situation, role and relationship.
A poorly drafted estate plan can drive wedges between family members.
Inheriting a home comes with financial, legal, and emotional responsibilities—understanding your options can help you make informed decisions.