How Will the New Tax Law Affect You?
While most of the new tax law – the Tax Cuts and Jobs Act – has to do with reducing the corporate tax rate from 35 percent to 21 percent, some provisions relate to individual taxpayers. Before we get into the…
Take These Three Steps When Your Child Turns 18
If your child has reached the teenage years, you may already feel as though you are losing control of her life. This is legally true once your child reaches the age of 18 because then the state considers your child to…
Are Trusts Still Useful If the Estate Tax Is Repealed?
With Republicans in control of Congress and the presidency, there is talk of eliminating the federal estate tax. In 2017 the tax affects only estates over $5.49 million, meaning that for more than 99 percent of Americans, it’s already been repealed.…
Four Provisions People Forget to Include in Their Estate Plan
Even if you’ve created an estate plan, are you sure you included everything you need to? There are certain provisions that people often forget to put in in a will or estate plan that can have a big impact on…
Trump Delays Rule That Retirement Advisers Put Their Client’s Interests Ahead of Their Own
President Trump signed an executive order calling for a review of the so-called fiduciary rule, which was intended to prevent financial advisers from steering their clients to bad retirement investments by requiring advisers to act in…
Is It Better to Use Joint Ownership or a Trust to Pass Down a Home?
When leaving a home to your children, you can avoid probate by using either joint ownership or a revocable trust, but which is the better method? If you add your child as a joint tenant on…
Make Reviewing Your Estate Plan One of Your New Year’s Resolutions
Estate planning is all about five essential documents. Here they are in order of importance: The Power of Attorney for Property The most important estate planning instrument for taking care of you and your family during…
Is It Better to Remarry or Just Live Together?
Finding love later in life may be unexpected and exciting, but should it lead to marriage? The considerations are much different for an older couple with adult children and retirement plans than for a young couple just…
5 Things to Know to Reduce Your Tax on Capital Gains
Although it is often said that nothing is certain except death and taxes, the one tax you may be able to avoid or minimize most through planning is the tax on capital gains. Here’s what you need to know to…
Execute a Power of Attorney Before It’s Too Late
A durable power of attorney is an extremely important estate planning tool, even more important than a will in many cases. This crucial document allows a person you appoint — your “attorney-in-fact” or “agent” — to act…