Repeal of the Death Tax Will Harm 99% of Americans

Many Americans are against the so-called death tax (estate tax) as an unfair tax. But the reality is more than 99% of Americans benefit from the estate tax. If you are married and own less than $11 million worth of assets, or are single and own less than $5 1/2 million in assets*, you or […]

Estate and Gift Tax Exemptions for 2016

  As of 2016, the following Estate and Gift tax exemptions are in effect: Estate Tax Exemption – $5,450,000 (U.S. Citizens and Residents) Annual Gift Tax Exemption – $14,000 (U.S. Citizens and Residents) Gifts Between Spouses – Unlimited (U.S. Citizens only) Nonresident Alien Estate Tax Exemption – $60,000 (may be subject to foreign treaty) Gifts to […]

Do Trusts Really Avoid Probate?

The simple answer is no.  Trusts by themselves do not avoid probate, but they make probate avoidance possible.  Think of the trust agreement as a box.  Anything put in the box does not require court administration (probate) to pass to the beneficiaries.  This is known as funding the trust and is one of the most […]

When to Review Your Estate Plan

It is generally recommended that your estate plan be reviewed every 3 to 5 years. Additionally, it should be reviewed prior to or following any major life event. Some examples of life events requiring review of your estate plan are as follows: Marriage Divorce Births Asset Acquisition Relocation Changes in Wealth Changes to the Law […]

Asset Protection

Asset Protection – Our assets are always at risk. Whether it’s through unknown creditors, accident, divorce, or acts of God; there will always be risks. However, this risk can be minimized through proper planning. On this page you’ll find various strategies to limit an individual or couple’s exposure to creditors. Homestead – Homestead property is only […]