Tag Archives: beneficiaries
7 Common Estate Planning Mistakes and How to Avoid Them
Estate planning is not just for the wealthy or the elderly. It matters for everyone, regardless of age or stage of life. By outlining how your assets should be managed and your wishes honored, an estate plan protects your property and your intended beneficiaries. Despite best intentions, people engaged in estate planning can make critical […]
Preparing for the End of the Doubled Gift and Estate Tax Exemption
The Tax Cuts and Jobs Act (TCJA), enacted in 2017, significantly increased the federal gift and estate tax lifetime exemption amount. As of 2024, the exemption stands at $13.61 million per individual (or $27.22 million for married couples), offering families an unprecedented opportunity to transfer substantial wealth without incurring […]
Using a Pour-Over Will as a Safety Net in Estate Planning
The principal goal of estate planning is making sure that your assets are managed and distributed according to your wishes once you’re deceased. Your last will and testament is one method of issuing directions for the handling of your estate. However, many people choose to create a living trust, which appoints a trustee to carry […]
Protecting a Beneficiary’s Inheritance with a Spendthrift Trust
Trusts are useful estate planning tools that allow you to control on what terms your assets will be transferred to designated beneficiaries. Trusts can fulfill multiple purposes, and one of them is to care for a child or other relative that you fear might squander their inheritance. By creating a spendthrift trust, you can protect […]
