You should seriously consider the potential pushback when you are planning your estate if you are thinking about disinheriting a child or someone else that will be expecting an inheritance. While you are certainly free to make your own decisions in this regard, you can take certain steps to … [Read more...] about Estate Contest Risk Can Be Minimized
Administering Living Trusts: The Trustee’s Role
A trustee is a person or entity who conducts the business of the estate during the trust administration process. If you utilize a revocable living trust as your asset transfer vehicle, you will act as the trustee while you are alive and well. You would also be the beneficiary, so you can take … [Read more...] about Administering Living Trusts: The Trustee’s Role
How Can You Minimize Estate Tax Liability?
The federal estate tax is a looming threat for people that have been very successful from a financial standpoint because it carries a 40 percent top rate. There are many people in the Hilton Head area that have done well, and if you are among them, you should understand the facts. Fortunately, … [Read more...] about How Can You Minimize Estate Tax Liability?
Probate 101
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
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
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?
