Your individual retirement account will provide a nest egg that you can draw from after you put your working years behind you. If there is something left in the account after your passing, it will be transferred to a beneficiary that you designate. There are rules with regard to individual … [Read more...] about What Are the Rules for Inherited IRAs?
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What Is the Gift Tax Exclusion in 2022?
In this post, we are going to look at an important gift tax detail. However, to be able to understand the implications, you have to absorb some background information about federal transfer taxes. Estate Tax Parameters Most families do not have to be concerned about the federal estate tax, because … [Read more...] about What Is the Gift Tax Exclusion in 2022?
Living Trust Administration: Choosing a Trustee
A lot of people do not consider the possibility of creating a trust because they think that the administration process is extremely complicated. They also have concerns about losing control of the assets that they convey into a trust. These notions are actually misconceptions, and we will provide … [Read more...] about Living Trust Administration: Choosing a Trustee
How Can You Leave an Inheritance to a Minor?
Most younger adults do not have estate plans in place, and many of them are the parents of minor children. Some people are simply remiss, but there are those that are unprepared because they don’t know how they would leave an inheritance to a child that cannot handle money. In this post, we will … [Read more...] about How Can You Leave an Inheritance to a Minor?
These Three Estate Plan Details Are Easy to Overlook
Everyone knows that you have to draw up a will or a trust to facilitate asset transfers after you are gone. This being stated, there are some finer details that should be attended to when you are devising your estate plan, and we are going to look at three of them in this post. Advance Directives … [Read more...] about These Three Estate Plan Details Are Easy to Overlook
Elder Law: Challenges for Sandwich Generation Members
There is a very significant demographic shift underway at the present time, and it is having an impact on countless families. During the years that immediately following World War II, an unprecedented number of babies were born. This phenomenon has come to be known as the baby boom, and these … [Read more...] about Elder Law: Challenges for Sandwich Generation Members
