Articles & Information

Should you name a Trust as IRA Beneficiary?

Date posted: December 13, 2018

An IRA is a popular vehicle to save for retirement, and it can also be a powerful estate planning tool. Some people designate a trust as beneficiary of their IRAs, but is that a good idea? The answer: possibly. IRA Benefits The benefit of an IRA is that your contributions can grow and compound on […]

Unleash the Power of a Non-Springing Power of Attorney

Date posted: December 10, 2018

Estate planning typically focuses on what happens to your children and your assets when you die. But it’s equally important to have a plan for making critical financial and medical decisions if you’re unable to make those decisions yourself. A crucial component of this plan is the power of attorney (POA) • specifically, a non-springing […]

Consider an Intrafamily Loan to Cover Estate Taxes

Date posted: December 5, 2018

Sometimes estates that are large enough for estate taxes to be a concern are asset rich but cash poor, without the liquidity needed to pay those taxes. An intrafamily loan is one option. While a life insurance policy can be used to cover taxes and other estate expenses, a benefit of using an intrafamily loan […]

including employees in your estate plan

Take Caution When Including Employees in Your Estate Plan

Date posted: December 3, 2018

If you’re the owner of a small business, you may think of your tight-knit group of employees as a family. If you wish to include them as beneficiaries in your estate plan, it’s critical to be aware of possible unintended tax consequences.   Unraveling the (tax) code Generally, money or other property received by gift […]

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Turn Down an Inheritance Using a Qualified Disclaimer

Date posted: November 28, 2018

If you are about to receive an inheritance from a family member, you can use a qualified disclaimer to refuse the bequest. The assets will then bypass your estate and go directly to the next beneficiary in line. It’s as if the successor beneficiary, not you, had been named as the beneficiary in the first […]