If you utilize a will to facilitate asset transfers after you are gone, you would name an executor in the document to serve as the administrator. They would take care of the tasks that must be completed to bring your wishes to fruition, but they would not be able to act independently. A will … [Read more...] about Probate 101
SECURE Act 2.0 Provisions Are in 2023 Omnibus Appropriations Bill
Over the last couple of years, we have been providing updates about a piece of legislation that is called SECURE Act 2.0. It is an expansion of the original SECURE Act that was passed in December of 2019 and enacted in 2020. Both measures impact individual retirement account parameters. The … [Read more...] about SECURE Act 2.0 Provisions Are in 2023 Omnibus Appropriations Bill
Estate Planning Guardrails for Spendthrift Heirs
There is no one particular estate planning approach that is ideal for everyone. There are different vehicles of asset transfer that can be utilized, and a layperson would have no reason to understand all of them. This is one of the reasons why it is important to discuss all available options with … [Read more...] about Estate Planning Guardrails for Spendthrift Heirs
Do You Pay Capital Gains Taxes When You Receive an Inheritance?
You probably have questions about how taxes can impact the inheritances that you are going to leave to your loved ones, including the capital gains tax. In this post, we will share information about taxes on capital gains and we will provide a broader overview of taxation on inheritances. Step-Up … [Read more...] about Do You Pay Capital Gains Taxes When You Receive an Inheritance?
How Is a Probate Estate Settled?
If you are named as the executor of an estate, there are specific things that must be done after the passing of the decedent during the administration process. This would also apply to a family member that has to sort out an uncertain situation after the death of a relative. In this post, we will … [Read more...] about How Is a Probate Estate Settled?
2022 Medicaid Spousal Allowance Updates
Until you learn about an inconvenient truth, you may not understand why a lot of senior citizens seek Medicaid eligibility, even though they were on Medicare. It involves the matter of long-term care and the costs that go along with it. You may be surprised to hear that 35 percent of elders will … [Read more...] about 2022 Medicaid Spousal Allowance Updates
