You wake up and check your investments over a cup of coffee. That tech stock you have been eyeing continues to trend upward, so you log in to your online brokerage account and buy some shares. Later in the day, you get a notice that your mortgage payment has been ...

It might be a stretch to say that if you have your health, you have everything. However, to some people, decisions about their health are arguably more personal in nature and more important to their overall well-being than financial decisions. This leads to the question of who will step in ...

Most people understand that having an estate plan benefits them and their loved ones. However, many individuals do not initiate the estate planning process because they do not fully understand the nuances of foundational estate planning tools such as a will and a trust and the full implications of dying ...

My last blog post of each year always provides updates on any upcoming estate tax law changes for the new year.  Before we get to the facts and figures, I just wanted to take a moment to wish all of you a happy new year and to say a sincere ...

Americans are known for their “work hard, play hard” mindset. On average, we work 1,789 hours per year.[1] However, even with our play-hard mentality, many of us do not stay up to see the ball drop on New Year’s Eve.[2] Less than one-third of Americans plan to either attend or ...

There are times, like the holiday season, that we think about and prepare for, for much of the year. However, when they arrive, we may still feel unprepared. The holidays serve as a reminder of how quickly life happens. It can also feel this way when we get the news ...

“He’s making a list. He’s checking it twice. He’s going to find out who’s naughty and nice . . . .”[1] The estate planning process can sometimes be similar to Santa’s process. You decide who should receive your money and property (the nice people on your list) and who should not (the naughty ones). Gathering ...

The results from the 2024 election are in, and although we still have weeks remaining before the 119th Congress takes office and the new president is inaugurated, there is some clarity about an election that has been called the most important in our lifetime and even in US history. Each ...

According to a Centers for Disease Control and Prevention survey, there were more than 670,000 divorces[1] and more than 2 million marriages in 2022. Divorce is a common life event that many Americans face during their lifetime. Some states have laws that automatically end an ex-spouse’s appointment as decision-maker in ...

A special needs trust (SNT) allows an individual to provide for a disabled beneficiary without jeopardizing the beneficiary’s eligibility for needs-based government benefits. SNT funds can generally be used to pay for almost anything that falls outside the basic support that programs such as Supplemental Security Income (SSI) and Medicaid ...

You regularly check the balances of your retirement, bank, and investment accounts. But when was the last time you checked the beneficiary designations on these accounts (and really, all the other accounts that allow you to name a beneficiary)? It may have been years since you first opened an individual ...

Many members of the next generation are banking on a sizable inheritance as part of an unprecedented intergenerational wealth transfer occurring in the United States right now. However, research shows a growing disconnect between how much children expect to receive and how much their parents plan on leaving them. You ...

While the term fiduciary is a legal term with a rich history, it generally means someone who is legally obligated to act in another person’s best interest. Trustees, executors, and agents are examples of fiduciaries. When you select people to fill these roles in your estate plan, you are picking ...

If you have overheard any estate planning discussions, you have likely heard the words “guardian” or “trustee.” In estate planning, deciding who will ultimately be tasked with caring for your minor child or managing funds for their benefit is an important decision that requires consideration of many factors. Although there ...

Current Law: The Tax Cuts & Jobs Act, enacted in 2017 and effective for years 2018 through 2025, more than doubled every individual’s exemption from gift and estate tax: the exemption amount was $5.49 million in 2017 and is currently $13.61 million. At death, a 40% tax applies to the ...