Death and Taxes are the two unpleasant things to hear about yet the guaranteed things in life. No matter how distressing the terms are, we got to manage at least the financial implications that come with them. If you ask for one helpful solution to the problem, I would say: trusts. But then again, revocable […]
Revocable or Irrevocable Trust – Which One is Best for You? Read More »
This unique case emerged in November 2020 in Texas court, which truly had a ripple effect on how the trusts are interpreted. Here is What Happened! So, what happened was that a mother established a trust in which she authorized a trustee to distribute her assets between her son and the son’s spouse. The twist
Ochse v. Ochse – Who is the “Spouse” in the Trust? Read More »
Estate planning is a complex topic to have a conversation on, especially with the parents. People usually think of estate planning as the process of designating one’s assets after the person passes away and settling his/her debts. This, however, is not true. Estate planning deals with other issues as well, such as the conditions of
3 Tips on Discussing Estate Planning with Your Parents Read More »
A will plays a crucial role in estate planning and administration. People usually don’t take it seriously, but that doesn’t affect its importance in any way. Many individuals even in Pennsylvania consider making handwritten wills. The main reason can be a sudden illness or the inability to afford an attorney. Whatever is the situation, if
“Holographic” or Handwritten Wills in Pennsylvania – 2 Critical Considerations Read More »
Limited Liability Companies or LLCs, just like other business organizations, need proper structuring. The owners of these LLCs are called members. They own a membership interest. There are various options to access and manage LLC interests and one of them is to not put them into the trust, unlike other business owner. This, however, is
Estate Planning for an LLC Interest – Everything You Need to Know! Read More »
We know that Biden has taken charge of the office, and numerous crucial tax changes are likely to happen that will impact your estate planning. It is, however, difficult to analyze the potential consequences of these changes. One thing you can do is to get yourself prepared to form an efficient estate plan. Here is
2 New Tax Changes Related to Estate Planning in Biden Administration Read More »
Estate planning, like most other facets of daily living, has been affected by the pandemic. But the change is for good with the right estate planning strategies. Here are four unique and helpful techniques for you to consider during the pandemic. Annual Gift Tax Exclusions During the pandemic, many assets are at an all-time low.
4 Estate Planning Techniques During Covid Read More »
Life insurance in estate planning can help provide flexibility and manage taxes, but many are yet unaware of it. As much as estate planning is meant to help you conserve and manage your assets while you’re alive, it is equally crucial to conserve and control the distribution assets after your death. Here are a few
Using Life Insurance in Estate Planning Read More »
Failure in estate planning and communication is one of the major reasons why small businesses fall apart. Yes, this is how important estate planning is. Small business owners need a strategy for managing personal assets and determining what will happen to their business in the long term. What if you are not around your business
3 Estate Planning Strategies for Small Business Owners Read More »