In estate planning circles, the word “probate” often comes with a starkly negative connotation. Indeed, for many people — especially those with larger estates — financial planners recommend trying to keep property out of probate whenever possible. That being said, the...
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Wealth Transfer Strategies to Consider
With a push by the Democratic party to return federal estate taxes to their historic norms, taxpayers need to act now before Congress passes legislation that could adversely impact their estates. Currently, the federal estate and gift tax exemption is set at $11.58...
Proposition 19’s Impact on your Existing Estate Plan
Currently under Proposition 58, parents can leave their primary residence of any value to a child (and in some cases, grandchildren) without reassessment of the Proposition 13 assessed value. Additionally, each parent can leave one million dollars of additional...
It’s Time To Consider Gifting To A Slat
Estate Tax Exemption in 2020 is $11,580,000 In 2020, a married couple can transfer approximately $23 million before having to pay any gift or estate taxes. However, unless Congress acts, the exemption amount will be reduced to approximately $6 million per person on...
Thirteen Estate Planning Terms You Need to Know
Estate planning—it is an incredibly important tool, not just for the uber wealthy or those thinking about retirement. On the contrary, estate planning is something every adult should do. Estate planning can help you accomplish any number of goals, including appointing...
How to Own Your Real Estate
Real estate encompasses not only one’s primary residence but also other real estate such as a vacation home or a rental property. The ideal form of ownership varies depending on the type of real estate you own. Below, we take a look at the different types of real...
Four Steps You Can Take to Protect Your Digital Estate
While the internet makes our lives more convenient, it also adds new complications. For example, what happens to all our online data and assets if we become disabled or die? Whether or not we spend half our lives responding to devices, we all transact a lot of our...
8 Tips for Having ‘The Talk’ with Elderly Parents
Talking about estate planning is a difficult, emotional topic but it’s essential for every family. Unless you’re certain your parents have an up-to-date will and a wider plan for what should happen in the event of their passing, you shouldn’t assume everything will be...
Will Medicare Cover a Coronavirus Vaccine?
With the coronavirus pandemic responsible for more than a hundred thousand deaths and disrupting life across the United States, the only way for the country to return to normal is an effective vaccine. When a vaccine is available, Medicare will cover the cost....
When Planning Your Estate, Don’t Let the Perfect Be the Enemy of the Good
There are many unknowns when planning an estate, but you can’t let the uncertainties get in the way of creating any kind of plan. Having an imperfect plan is usually better than having no plan at all. When planning an estate you want to be able to consider all the...