When individuals cannot manage their finances, courts can appoint guardians. Financial guardianship is for those who need help handling money.
With Republicans in control of Congress and the presidency, there is talk of eliminating the federal estate tax, which in 2017 affects only estates over $5.49 million, fewer than 1 percent of estates. With no estate tax, do you still need a trust?
Although the vast majority of Americans have estates that fall under the estate and gift tax exemption, the exemption is set to be cut in half in 2026. Proper planning may be necessary to make sure you are taking full advantage of the current exemption and aren’t negatively affected when it decreases.
Credit shelter trusts are a way to take full advantage of state and federal estate tax exemptions. Although such trusts may appear needless unless you are a multi-millionaire, there are still reasons to create them.
Your will is a legally-binding statement directing who will receive your property at your death. Why should you have a will? Here are some reasons.
Gifting assets to your grandchildren can do more than help your descendants get a good start in life — it can also reduce the size of your estate and the tax that will be due upon your death.
Congress sets the amount that an individual can transfer tax-free either during life or at death. The current estate tax exemption is so high that very few estates will have to pay an estate tax.
We all know we are supposed to do estate planning, but not all of us get around to it. So what happens if you don’t have a will when you die?
