Category Archives: Estate Planning

Health Care Documents are Often Forgotten When Creating A Will

Do you have a Living Will  and a Health Care Proxy?  As I drafted a Last Will and Testament tonight, I thought to myself do people understand what these ancillary documents are, or better yet, do people know they even exist? While the documents themselves aren’t entirely difficult to understand, the choices you have toContinue Reading

What is the Estate Tax Trap High Net Worth Individuals Fall into?

How not to become a victim. If your net worth is high enough to be subject to the evil estate tax, chances are you worked your tail off all or most of your adult life to accumulate your wealth… But draw your last breath and the estate tax monster wants to devour about half yourContinue Reading

Advanced Charitable Giving using Life Insurance

As we get into the holiday season people start to feel charitably inclined, and yes you could just drop some coins with the unenthusiastic guy with a bell, give a $20 spot at church, or write a check…but what if there was a bigger bang for your proverbial buck?   Over the next couple weeks I willContinue Reading

The House Passes Estate Tax Bill to Freeze Current Exemptions and Rates

In a vote closer than I expected the house passed, an Estate Tax Bill!  For all intents and purposes the bill freezes the Federal Estate Tax (Remember State Estate tax is different) so that every U.S. Citizen has a $3,500,000 exemption and anything above that amount is effectively taxed at 45%. The Bill passed 225 toContinue Reading

Gift Laws and Taxes Made Simple

Most people just assume they can give away whatever they want in any situation; that is just not true. Ignoring gifting laws and taxes can cost you and your family a lot of money!  When gifting large sums of money there are federal tax implications one should keep in mind. Gift Tax Introduction What is aContinue Reading

Don’t Accidently Forgo Your Charitable Intent at Death

Even those with strong charitable intents (religious or otherwise), actually fail to provide for the charities of their choice at death.  In essence their charitable intent is often ignored, and it is usually by mistake! I was reading a Last Will and Testament of a high net worth client the other day, and came acrossContinue Reading