Tag Archives: Estate Planning

Who is Going to Take Care of your Pet IF you Die?

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

Naming a Trust as Beneficiary of an IRA

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

Series EE Bonds, Income Tax Planning and Estate Planning

Series EE Bonds, Income Tax Planning and Estate Planning

I have always prided myself in my research abilities, whether it be during my undergraduate years, post-graduate education, or during my working career.  In fact I would have to say at least I spend at least 5 to 10 hours a week researching random questions for planners at my firm.  While clerking (basically working for

Simple Explanation of the Federal Estate Tax

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,

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

A Simple or I Love you Will

A Simple or I Love you Will

This is the second part in my series on Wills.  Before going into the types of Wills, remember that everyone needs a will.  The easiest type of Will is known as a Simple Will a/k/a “The I Love You Will” (I will use them interchangeably). What is a Simple Will or I Love You Will?