Minimizing Estate Taxes Many people assume that when they establish a revocable living trust, property held in the trust will completely avoid federal estate taxes after their death, when in fact living trusts do not provide any unique estate tax…
Many people delay estate planning because they believe it’s only for the wealthy, the elderly, or those with complex assets. Unfortunately, these misconceptions can lead to costly and painful consequences for loved ones left behind, or even for you while…
Deciding to end a marriage as an older adult is increasingly common. If your marriage ended later in life, you could be part of the “gray” divorce trend. AARP reports that Baby Boomers, those born between 1946 and 1964, are…
In estate planning, there is a surprisingly common misstep that can have costly consequences for some families. A recent Wall Street Journal article highlighted this error: the failure to file an estate tax return upon the death of the first…
Though you are likely in good health now and can handle your own financial transactions and health care decisions, there is always a chance you could lose that ability. It could happen suddenly, as with a car accident, or gradually,…
Many Americans are worried they won’t have enough money saved to retire, and a cohort of the oldest workers is proving this concern to be legitimate. Nearly half a million Americans over the age of 80 are still working, while…
Creating an estate plan is one of the most important steps a person can take to provide for their loved ones and ensure their wishes are carried out. But drafting a will, trust, or related documents is not a “one-and-done”…
Would you be more inclined to give to charity if you could turn your assets into steady income, avoid an immediate tax bill, and leave a legacy for a worthy cause? A charitable remainder trust (CRT) can do exactly that.…
The World Loses a Fitness Icon When Richard Simmons passed away in July 2024, the world lost an entertainer who made exercise fun for millions. His Sweatin’ to the Oldies workouts and larger-than-life personality brought joy to countless living rooms.…
The Passage of the OBBBA On July 4, flanked by cheering supporters and with military jets soaring overhead, President Donald Trump signed the One Big Beautiful Bill Act (OBBBA) into law. The signing ceremony, part of the Independence Day festivities…