Estate & Trust

/Estate & Trust

Is Estate Planning on the Menu?

By |2019-09-04T20:14:50+00:00September 4th, 2019|Estate & Trust, News & Events|

Are you caught between the needs of young children and elderly relatives like your parents? If so, you are part of the growing segment of the population known as the “sandwich generation.” In particular, it may be difficult to care for loved ones as they grow older and require more care. To compound the problems, [...]

Overview of Charitable Remainder Trusts

By |2019-05-14T16:26:26+00:00May 14th, 2019|Estate & Trust, News & Events|

The charitable remainder trust (CRT), which has been a valuable estate planning tool for decades, has not been forgotten. Currently, the usual 15% tax rate on long-term capital gains is increased to 20% for upper-income investors, while a 3.8% surtax may also apply to a portion of your investment income. Thus, CRTs remain a popular [...]

IRS Provides Extra Estate Tax Protection

By |2019-02-05T19:22:42+00:00February 5th, 2019|Estate & Trust, News & Events|

The IRS has provided some estate planning comfort for well-to-do individuals. Under the Tax Cuts and Jobs Act (TCJA), the estate tax exclusion was raised to $10 million, indexed for inflation. That provides plenty of leeway for most families. However, like many other TCJA changes for individuals, this provision is scheduled to “sunset” after 2025. [...]

Seven Reasons to Have a Will

By |2018-12-20T15:57:03+00:00January 3rd, 2019|Estate & Trust, News & Events|

Many music lovers were dismayed by the recent death of Aretha Franklin, the famous recording artist. Also dismaying: The “Queen of Soul” passed away without a legally enforceable will. This could lead to serious complications. What about you? If you do not have a will in place, do not wait any longer. There are numerous [...]

The Estate Tax Lives On

By |2018-03-08T22:01:30+00:00March 10th, 2018|Estate & Trust, Individual Tax, News & Events|

Reports of the death of the federal estate tax are premature. Significantly, the TCJA retains the federal estate- and gift-tax systems but doubles the federal estate tax exemption to $11.2 million for 2018. (The $5 million exemption was scheduled to be indexed to $5.6 million in 2018.) This increase will vanish after 2025. As a [...]

2018 Gift Tax Exclusions

By |2018-02-19T17:36:59+00:00February 5th, 2018|Estate & Trust, News & Events|

As expected, the IRS announced that the annual gift tax exclusion is finally going up in 2018, to $15,000. The annual exclusion, which is increased only in increments of $1,000, had been set at $14,000 per recipient for the past five tax years (2013-2017). Thus, if you have five grandchildren, you can now give [...]

Ten Moves Forward for a Second Marriage

By |2017-05-25T20:36:08+00:00May 30th, 2017|Estate & Trust, Individual Tax, News & Events, Pension Admin & Consulting|

Consider estate-planning implications If you are getting remarried, you may face some special estate-planning challenges, especially if you have children from a prior marriage. The following 10 tips may help. 1. Talk with one another. Do not start off a marriage by hiding financial interests or concerns from one another. For instance, if you intend to [...]

ABLE Accounts: tax-advantage savings program for people with disabilities

By |2017-05-18T22:55:00+00:00February 17th, 2017|Accounting & Auditing, Estate & Trust, Individual Tax, News & Events|

Early last year we discussed the ABLE Accounts as a potential option for Alabama families.  By December, the state of Alabama instituted the program, per State Treasurer Young Boozer, with a contract with the state of Nebraska.  The Alabama plan will be known as Enable Savings Plan Alabama, and more information can be found at [...]