Key Estate Planning Strategies for High Net Worth Families

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Key Estate Planning Strategies for High Net Worth Families

High net worth individuals are much more likely to have a federal taxable estate. As such, their estate planning strategies will typically include not just how they wish to divide their assets after their death and arrange for end-of-life care, but also how they can minimize their potential estate tax liability. Here are a few […]

Why It’s Important for Your Personal Representative to Have Access to Your Digital Assets

Today’s estate plans must consider digital as well as physical assets. Digital assets include online bank accounts, email accounts, social media profiles, photo storage accounts, apps, blogs, web domains and any other digital file or account. It is imperative to provide your personal representative with access to these assets. Without such access, he or she […]

Avoid These Potentially Troublesome Gift-Giving Strategies

Although there’s a large tax exemption limits for gifts you make to other individuals each year, there are still some gift-giving strategies that could land you in trouble with the Internal Revenue Service (IRS). Below are a few examples of the actions you should avoid. Loans disguised as gifts In some cases, parents or grandparents […]

Estate Tax Planning on Hold with Incoming Administration

With a new administration taking office in Washington, D.C., there is a lot of uncertainty as to what the future holds related to the federal estate tax. As a result, many people are taking a wait-and-see approach to their estate planning until there is more clarity on what they can expect moving forward. President-Elect Donald […]