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
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Capital Gains Taxes on Receiving 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 Capital Gains Taxes on Receiving 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
Legacy Planning: What Is It and What You Need to Know
Legacy planning is a more complete type of estate planning. When you consciously craft your legacy, you can take steps to have an impact after you are gone on multiple levels. Let’s look at the details. Legacy Wealth Planning If you have a significant store of wealth you will be passing along to … [Read more...] about Legacy Planning: What Is It and What You Need to Know
Business Succession Planning is Simpler Than Expected
Succession planning for businesses doesn't have to be a mystery. American Academy of Estate Planning Attorneys' Education Director Steve Hartnett touches on the topic of succession planning for businesses in the content below, but our estate planning attorney, Hunter Montgomery, is happy to help … [Read more...] about Business Succession Planning is Simpler Than Expected
