People often believe that Estate Planning is a “simple” process designed only for those whose estates will exceed the Applicable Exclusion Amount of $12.92 million in 2023. That myopic view causes many who should undertake Estate Planning to skip it altogether or to look for ways to complete the … [Read more...] about How Tax and Non-Tax Considerations Impact Estate Planning – Part II
Estate Planning
The Intersection of Bank Failure and FDIC Insurance
Three banks have collapsed in one week sending shockwaves through the banking industry. Many may wonder if their deposits are safe. Thankfully, the Federal Deposit Insurance Company insures deposits up to a certain amount and there are ways for individuals with deposits exceeding those amounts to … [Read more...] about The Intersection of Bank Failure and FDIC Insurance
What Bruce Willis Can Teach Us About Incapacity Planning
When Bruce Willis announced his retirement from acting because of aphasia, it sent shockwaves through Hollywood and across the country. Just a few weeks ago, Bruce’s family indicated that the disease had progressed to frontotemporal dementia highlighting the importance of incapacity planning. While … [Read more...] about What Bruce Willis Can Teach Us About Incapacity Planning
What Happens When You Don’t Trust Your Trustee – Part II
Trusts have become ubiquitous parts of estate plans. Many Estate Plans use revocable trusts as the foundation for the plan while others include irrevocable trusts. Regardless of the planning reason, every trust needs a trustee. The grantor may name the beneficiary as trustee, or the grantor may name … [Read more...] about What Happens When You Don’t Trust Your Trustee – Part II
What Happens When You Don’t Trust Your Trustee – Part I
Trusts have become ubiquitous parts of estate plans. Many Estate Plans use revocable trusts as the foundation for the plan while others include irrevocable trusts. Regardless of the planning reason, every trust needs a trustee. The grantor may name the beneficiary as trustee, or the grantor may name … [Read more...] about What Happens When You Don’t Trust Your Trustee – Part I
What You Need to Know About SECURE Act 2.0
IRAs have become ubiquitous components of estate plans. The SECURE Act of 2019 altered the landscape for IRAs significantly. Just when advisors began to get comfortable with the new 10-year rule, the United States Treasury Department promulgated proposed Treasury Regulations early in 2022 adding … [Read more...] about What You Need to Know About SECURE Act 2.0
