Changing the Value of an Estate before Death

Certain situations present opportunities to lower the value of an estate before death, thereby decreasing tax liabilities for heirs. In cases where a loved one is on life support for an extended period time and is legally incapacitated, there may come a time when the family is faced with a one of the most difficult…

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Non-Spouse Beneficiaries and Inherited IRAs

Understanding tax liabilities and complex rules when inheriting an IRA, especially for a non-spouse, can be daunting. Don’t hesitate to ask for help: mistakes can be costly. People respond in a variety of different ways when receiving an inheritance from a loved one. Sometimes grief is mixed with excitement over the possibilities presented by the…

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Boomers and Millennials Both Need Estate Plans

It doesn’t matter how old you are—you need to have an estate plan. It’s part of being a responsible adult. One reason to have an estate plan is to articulate how you want your possessions, including real estate, investment accounts and personal effects, to be distributed after you die. But that’s not limited to people…

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Special Challenges Remain for Some Same-Sex Couples

The winding road that led to legalization of same-sex marriage included states that permitted the marriages, some that did not and the right to marry nationwide. Along the way, some situations were created that have put some couples’ legal status in a potentially problematic situation. Every couple needs to have an estate plan to ensure…

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Should You Leave Money for Your Kids? How Much?

Money and families can be very complicated. How do you know how much money to leave to your children, or if you want to leave anything at all? Different generations and different socioeconomic groups have different beliefs about whether or not they should leave a generous legacy to their children, or if their kids need…

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