With the gift and estate tax exemption amount at $12.92 million for 2023, only a small percentage of families are subject to federal estate tax. While that’s certainly a relief, state estate tax also must be considered in estate planning. Although many states tie their exemption amounts to the federal exemption, several states have exemptions […]Continue reading

Setting up an investment account for your minor child can be a tax-efficient way of saving for college or other expenses. And one of the simplest ways to invest on your child’s behalf is to open a custodial account under the Uniform Gifts to Minors Act (UGMA) or Uniform Transfers to Minors Act (UTMA). These […]Continue reading

Granted, a QTIP trust is an odd sounding name for an estate planning technique. Nevertheless, it can be a valuable strategy, especially if you’re currently in a second marriage. The QTIP moniker is an acronym for the technical term of “qualified terminable interest property.” Essentially, the trust provides future security for both a surviving spouse […]Continue reading

Few estate planning subjects are as misunderstood as probate. But circumventing the probate process is usually a good idea, and several tools are available to help you do just that. Why Should You Avoid it? Probate is a legal procedure in which a court establishes the validity of your will, determines the value of your […]Continue reading

When it comes to estate planning, one of the most complex and often misunderstood aspects is estate taxes. Understanding estate taxes and how they can affect your estate plan is crucial to protecting your assets and ensuring that your loved ones are cared for after you’re gone. That’s why we’ve put together this guide to […]Continue reading

When it comes to securing your family’s future and ensuring that your assets are distributed according to your wishes, an effective estate plan is vital. Many people believe that estate planning is reserved for the wealthy or the elderly. However, everyone can benefit from a well-structured estate plan, regardless of age or financial status. An […]Continue reading