Estate planning can be an overwhelming process, emotionally and mentally. The prices to work with a financial professional certainly donât help either. These days, itâs possible to find free templates and do-it-yourself kits online that make estate planning more affordable. … Continue reading →
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Washington, D.C. does levy an estate tax on the estates of certain people after they have died. Specifically, the D.C. estate tax applies to any estate worth more than $4 million starting in 2021. In 2020, the threshold was $5.7642 … Continue reading →
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Estate planning costs vary, and the difference in fees can only add to the emotional challenges. It’s difficult enough to begin managing matters of death without confusion on top of that. The pandemic has only compounded such challenges. We are most … Continue reading →
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A living will is a legal document that allows you to specify the kind of care youâd like to receive in end-of-life situations. This is different from an advance healthcare directive, though either one can be an important part of … Continue reading →
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Getting married for a second time following a divorce or the death of your first spouse can feel like a fresh start. But itâs important to consider how joining your life with someone elseâs may impact your financial plan, including … Continue reading →
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A trust can be a useful estate planning tool, in addition to a will. You can use a trust to remove assets from probate, potentially minimize estate and gift taxes and ensure that assets are managed on behalf of beneficiaries … Continue reading →
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Estate planning can help you pass on assets to your heirs while potentially minimizing taxes. When gifting assets, itâs important to consider when and how the generation-skipping tax transfer (GSTT) may apply. Also called the generation-skipping tax, this federal tax … Continue reading →
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Medicaid is a government program that can help eligible seniors pay for nursing home care. If youâre helping an aging parent navigate Medicaid because they donât have long-term care insurance or you think youâll need it yourself someday, itâs important … Continue reading →
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Taking care of aging parents is something you may need to plan for, especially if you think one or both of them might need long-term care. One thing you may not know is that some states have filial responsibility laws … Continue reading →
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When creating an estate plan, one of the most basic documents you may wish to include is a will. If you have a more complicated estate, you might also need to have a trust in place. Both a will and … Continue reading →
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