What It Was Like to Finally Write My Will
Preparing for an eventual demise by drawing up a will — is a good idea.
A will smooths the way for your heirs to inherit whatever you’re going to give them, saving time and money.
Wills can also help you avoid tax pitfalls and feuding heirs
Life After Your Death? Here’s Why You Should Have a Trust
Everyone needs a will, but, increasingly, estate planners say people also could benefit from setting up a trust while they are alive. That step would help assure that their assets are distributed more quickly, their bills paid promptly and continuously and personal information about property and other assets be kept out of the public eye.
Multi-Faceted Planning Essential For Client Financial Success by Joseph E. Godfrey III, MBA, CLU, AEP and Martin M. Shenkman, CPA, MBA, JD
Planning for the future today is very different from when our parents' generation looked at retirement. My co-authored article Multi-Faceted Planning Essential For Client Financial Successť was published by CCH in November 2017. The Questions to Evaluateť on the last two pages offer points to ponder as we move through life and have responsibilities and ties to various people and organizations over time.
What’s in the Tax Bill, and How It Will Affect You
Several of the most anticipated changes — such as a significant increase in the standard deduction and the curtailing of state and local income tax breaks — made the final cut. Some of the most controversial proposals, like eliminating the medical deduction, were wiped away.
Many of these provisions are temporary, however, and are set to expire after seven years. They all take effect in 2018, unless noted otherwise.
Who’d Gain From an Estate Tax Rollback: The 0.2 Percenters
As Steven Mnuchin, President Trump’s Treasury secretary, bluntly declared last month, “Obviously, the estate tax, I will concede, disproportionately helps rich people.”
As it is now, the estate tax affects a small set of wealthy Americans, applying only when someone leaves assets worth more than $5.49 million to heirs. Together, parents can leave $11 million to their children without paying a penny in estate taxes.