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The great wealth transfer is coming, and some may have considered it started already, yet we are woefully underprepared. Not just millions or billions of dollars, but trillions of dollars that will need to be transferred. Not just one or two trillion dollars, but twenty to thirty, and some estimates suggest even more. According to…

Weddings are happy and momentous occasions, turning points on the path of life. In the exciting preparations for the celebration, sometimes the financial implications of the new marital partnership can be overlooked. These will affect the newlyweds, of course, but there are also considerations for the extended family. Personal income taxes For tax purposes, there…

With the passage of the legislation that made the federal estate tax exemption permanent at $15 million earlier this year (up to $30 million with portability for a married couple), there is only a very small number of taxpayers who must worry about federal estate and gift taxes moving forward. However, that doesn’t mean that…

Although it is natural to celebrate our grandparents every day, it is also nice to designate a special day for special appreciation too. An effort to do so nationally began with 9-year-old Russell Clapper writing a letter to President Nixon in 1969. It wasn’t as easy as just sending a child’s letter to create a…

About that choice of trustee Wastin’ away again in Margaritaville Searchin’ for my lost shaker of salt Some people claim that there’s a woman to blame But I know it’s my own damn fault —Jimmy Buffett, Margaritaville, third chorus  The estate of singer-songwriter Jimmy Buffett, who died in 2023, looked well planned. Under his will,…

You may have seen news or read articles last month about a breach of over 16 billion passwords, more than twice the number of humans on this planet. This sensation-grabbing headline has been contested by some, claiming that the number may be inflated with duplicates or may include older leaks. Either way, this Forbes article…

Utilizing estate planning strategies to mitigate death taxes can be important, but it’s not the only, or in many cases, primary reason to reach for the estate planning toolbox. From making sure that your estate passes to your chosen beneficiaries to ensuring financial privacy, there are several ways estate planning can be beneficial. Need a…