When estate planning, don’t forget to consider the tax considerations. Do not transfer assets with gains from an older generation to a younger generation without tax and step-up basis considerations. These rules vary state to state and can be very complex to decipher....
I’m not imaginative enough to make the next one up. It really happened. An elderly mom had three children and all were very close. Indeed, the three sons lived with Mom into their sixties. Yes, the four of them lived together most of their lives, and that’s not even...
Catchy title, but the real topic is “Credit Shelter Trusts: How to Pass Assets to Your Family and Not to Somebody Else’s Family.” Here is the situation. You’ve worked your whole life and you have kids with your wife of many years. You are a pretty smart guy so you do...
One of my favorite old phrases, “Carpe Diem” re-surfaced again and boy was I delighted. The Latin phrase, which translates to “Seize the Day” has always inspired me to set new goals and strive to do something meaningful. It’s easy to fall into a routine and not...
Certain activities such as dentistry, tattooing and estate planning should usually be hired out to someone qualified and not performed at home. Few people know enough to do their own estate planning. One of my clients consulted with Grandma to gift her real estate...
Your financial plan focuses not only on the resources available to you during your lifetime, but also involves what you leave for future generations. We use the term “legacy planning” to encompass both generational transfer and planned charitable giving. You’ve worked...
