I found out that my dad is having major surgery in a couple weeks, so I had to ask…”Did he have a will, and would he like his son, who works with wills everyday, to make sure it follows his testamentary intent and is tax efficient?” Well, I was shocked when he told me, he didn’t… Continue Reading
Category Archives: Estate Planning
Audit Worries – Your Surviving Family may be in for a Suprise
I was reading my fav. magazine today, Trusts and Estates and came across an amazing article. Trusts and Estates Magazine has been around since the early 1900s and is read by most of the Trust and Estates world – it costs $35 an issue, but luckily work picks it up! The article titled, “The Audit… Continue Reading
Who is Going to Take Care of your Pet IF you Die?
Was reading a trade publication today called Trusts and Estates Magazine, I LOVE this magazine – it is a wealth of information written by tax professionals for tax professionals. Most of the info in there is not approprioate for a personal finance blog…not because it is not interesting, but rather, it is written for those… Continue Reading
Naming a Trust as Beneficiary of an IRA
As the baby boomers get older, and we continue to hear the oft repeated saying, We are about to experience the greatest transfer of wealth in history One of my planners recently asked my opinion about a situation – his client, a concerned parent, is about to retire and has approximately $2,500,000 in qualified money… Continue Reading
Simple Explanation of the Federal Estate Tax
On a daily basis I have to turn complicated tax issues into a simple discussion. A discussion that I have to discuss/teach very often is the Federal Estate Tax. Before we discuss the easy way to determine your Federal Estate Tax bill some caveats: The calculations below are commonly referred to as “Napkin Math.” Meaning,… Continue Reading
Tax Sensitive Will a/k/a By Pass Will
This is my 3rd post in this Will Series – The By Pass Will. If you want to check out the previous two posts they are: Every one Needs a Will The Simple or I Love You Will The type of Will I am going to explain has many many names, but a few of… Continue Reading
