The 2020 Election and the Effect on Current Gift, Estate and Generation-Skipping Transfer Taxes - Due to the election results and President Joe Biden taking Trump's position in the Oval Office, conversation continues to grow surrounding the area of taxes and estate planning. As many are …
Estate taxes
Federal Estate Tax Exemption Is Set to Expire – Are You Prepared?
Federal Estate Tax Exemption Is Set to Expire – Are You Prepared? - Maybe not tomorrow, but the sunset of our historically high estate tax exemptions is coming — and with the election on its way, it could be sooner than you think. A window of opportunity opened in 2018 when the Tax Cuts and …
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The ‘Magic’ Life Insurance Trust
A life insurance trust is a trust that can buy life insurance policies on the person who establishes the trust (called the grantor), the grantor's spouse or the trust beneficiaries. The trust owns the insurance policy and collects death proceeds when you die. A trustee — whom you choose to carry out …
Wealth Transfer Plans: How to Take Control
Thinking about passing assets on to your next generation? Your parents are aging and passing away; your own children are reaching adulthood. You realize that you need to focus on your wealth transfer plans. This may appear to be a complex affair, involving planning and executing a strategy to …
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