Wealth transfer can be protected from excessive taxation by applying tax avoidance principles. Still, it requires careful planning and oversight to ensure techniques don’t cross the line to tax evasion. Assessing tax options can determine the best way to conduct…
Special needs individuals have access to a number of federal programs and services. These programs are vital to parents and guardians supporting loved ones with disabilities. Parents raising children with special needs require nearly twenty percent more income annually to…
A special needs child requires special consideration when estate planning. You’ll need to assess how your child will be able to function in the world as they age. There are many questions to answer, including: What is the child’s long-term…
A wealth transfer or estate planning strategy may include strategies that preserve assets while providing financial benefits to those who inherit them. One such strategy is the grantor-retained income trust (GRIT). GRITs offer a unique opportunity for individuals to retain…
Think about being ill and having to determine whether or not you can afford medical care. Unfortunately, for many Americans, seeking medical care hinges on affordability rather than medical necessity. About half of US adults have gone without or delayed medical care…
There are many people who use trusts, not just the wealthy. In addition to serving many purposes, they address specific problems that are less concerned with wealth, and put the focus more on family dynamics. Do you want to keep…
Most young parents are not concerned about death or serious illness or injury. As unlikely as such a serious event is when we are young, it is a possibility. This is why we pay for medical insurance, disability insurance, and…
During probate court, a person’s will is validated and the executor is responsible for handling the decedent’s assets, debts, and final tax filings legally and according to the decedent’s wishes. To begin probate, a personal representative or executor must file…
Online profiles and accounts aren’t addressed in most estate plans because most adults don’t have a will. As your online presence grows professionally and personally, taking charge of your digital assets and plans for them after you die becomes important.…
It is possible that a family member or friend will ask you to act as their power of attorney. Your person may be planning for when they might become unable to take care of their affairs. For example, they might…