A Prenup or a DAPT: Which is the Better Choice? If you or one of your adult children is getting married, you may be concerned about protecting your family’s assets in the event of a divorce. A prenuptial agreement can be an effective tool for overriding marital property rights and keeping assets in the family. […]
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Estate Planning Lite: College-Aged Children Need a Basic Estate Plan If your son or daughter currently is home from college on winter break, now is a good time to sit down and discuss a few estate planning documents he or she should have at this stage of life. Let’s take a closer look at four
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If You’re Driven to Transfer a Vehicle’s Ownership to a Trust, Know the Risks A revocable trust — often referred to as a “living trust” — can help ensure smooth management of your assets during life and avoid probate at death. And you may know that the trust isn’t effective unless you “fund” it —
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Jump to the Front of the Line by Expediting Your I-751 Application For spouses of U.S. citizens who have been granted conditional permanent residence status for a period of two years, you will need to file form I-751 to remove the conditional status during the 90 days before your second anniversary as a conditional resident.
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Have You Had Your Annual Estate Plan Checkup? An annual estate plan checkup is critical to the health of your estate plan. Because various exclusion, exemption and deduction amounts are adjusted for inflation, they can change from year to year, impacting your plan. 2019 vs. 2018 Amounts Here are a few key figures for 2018
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Exemption from Naturalization Interview Language Requirement Often times, individuals do not become permanent residents until much later in life. This often occurs when adult United States citizen children who are over twenty-one filing a petition on behalf of their much older non-citizen parent. As a result, many of these parents are not fluent in the
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Hastily Choosing an Executor Can Lead to Problems After Your Death Choosing the right executor — sometimes known as a “personal representative” — is critical to the smooth administration of an estate. Yet many people treat this decision as an afterthought. Given an executor’s many responsibilities and complex tasks, it pays to put some thought
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An ESOP Can Benefit a Business Owner’s Retirement and Estate Plans Employee stock ownership plans (ESOPs) offer closely held business owners an exit strategy and a tax-efficient technique for sharing equity with employees. But did you know that an ESOP can be a powerful estate planning tool? It can help you address several planning challenges,
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Building an On-Off Switch Into Your Estate Plan The right estate planning strategy for you likely is the one that will produce the greatest tax savings for your family. Unfortunately, there can be tension between strategies that save estate tax and ones that save income tax. This is especially true now that the Tax Cuts
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What You Need to Know About Filing Gift and Estate Tax Returns Have you made substantial gifts of wealth to family members? Or are you the executor of the estate of a loved one who died recently? If so, you need to know whether you must file a gift or estate tax return. Filing a
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