Tag Archives: Estate Planning

An Unusual Way to Create an Amazing Legacy

I came across this amazing and unusual estate plan where the a family created a credit union for heirs only.  Forget having to worry about gifting or tax ramifications of intra-family loans this a legitimate credit union where, according to the CBS’ article, For a $5 deposit, plus a 25-cent handling fee, you become a memberContinue Reading

Choosing a Life Insurance Beneficiary

I think that the beneficiary status on a life insurance policy is an often over looked when handling one’s finances and estate planning, however, for many it is the largest asset they leave behind for their heirs and should be handled with care.  As with everything on this site, I am not providing legal or financialContinue Reading

Tax Changes for 2013–Fiscal Cliff Deal Finalized

CCH recently released a fantastic Tax Briefing on the legislation passed to avoid the tax die of the Fiscal Cliff.  There were some significant changes to the tax law, as well as avoidance of some terrible sunsets.  I think my personal opinion of the deal would be better suited for another post.  Below are someContinue Reading

IRS Increases Annual Gifting Exclusion for 2013

The Internal Revenue Service recently published various inflation based adjustments.  Among the two dozen tax provisions affected was the Annual Gift Exclusion amount.  The amount you can gift to someone has increased from $13,000 in 2012 to $14,000 in 2014. What is the Annual Gift Exclusion Amount? In the United States a person with interests/assetsContinue Reading