You may have spent decades building up your sports memorabilia collection. Maybe you have some rare cards and autographed pictures that have steadily gained value over the years, and now they are worth a significant amount of money. You go to great lengths to keep these items in mint condition. ...

About 90 million Americans depend on life insurance for financial protection and retirement security.[1] An almost equal number say that they either do not have any life insurance or need more life insurance.[2] More than one-third say they plan to purchase coverage in the next year.[3] With very few exceptions, ...

The proceeds from your life insurance policy can benefit your loved ones in many ways, from paying off your outstanding debts to providing supplemental income for your spouse and children to covering funeral and burial expenses. Life insurance policy payouts average $168,000.[1] As the policyholder, you can—and should—name beneficiaries of ...

According to a new study from LIMRA and Life Happens, two nonprofit industry trade associations, a record-high number of American adults—approximately 102 million—either do not have life insurance or do not have enough coverage.[1] Misunderstandings about how much life insurance costs and what type to purchase are the largest barriers ...

Lucille Ball was the queen of television comedy to an older generation of Americans. Today, more than 70 years after I Love Lucy premiered, reruns still air on late-night networks, making it the longest-broadcasted TV show of all time and endearing Ball to a new generation of fans. Rankings of ...

Too little estate planning can put your heirs in a bind and tie up your estate in time-consuming and costly probate litigation. But as the legal saga of Aretha Franklin’s estate shows, too much estate planning—in particular, planning that introduces uncertainty about your final wishes—can also be problematic. After her ...

We are at the precipice of what is being called “The Greatest Wealth Transfer in History,” as baby boomers are set to pass down $84 trillion to younger generations.[1] Every parent wants to see their children succeed. But some may wonder whether an inheritance will help promote or hinder the ...

On March 27, 2024, New Jersey state lottery officials announced the winning ticket of the largest lottery prize in the state’s history (8th largest in United States history) was a single ticket purchased at the ShopRite on Route 66 in Neptune Township, New Jersey. The mystery winner of Tuesday’s historic ...

Suddenly coming into money can be both a blessing and a curse. Whether you just signed a multiyear, multimillion dollar employment contract, received a significant inheritance, expect a large check from a lawsuit verdict or divorce settlement, or just won the lottery, you need help from professionals to avoid negative ...

If you have significant wealth, one of the best ways to protect your family and transfer your wealth is through a dynasty trust. However, setting one up requires considerable financial and estate planning knowledge. As experienced estate planning attorneys, we can explore all options available to protect your legacy and ...

When you decide to create a comprehensive estate plan, there are many things to consider. One is whether to tell your loved ones about your plan and how much information to share with them. Estate planning can be a complex and sensitive matter, so your choice may depend on your ...

You have several different options when it comes to creating the right estate plan. Some people believe that a revocable living trust is the best way to go, while others think that a last will and testament (commonly known as a will) is best under certain circumstances. Others may find ...

The Countdown Begins: Will We Keep the $10 Million Exemption? The year 2026 is quickly approaching, bringing substantial changes that may affect your estate tax situation. The Tax Cuts and Jobs Act (TCJA) in 2017 significantly increased the federal estate tax exemption to $10 million adjusted for inflation. This is ...

As of January 1, 2024, a new law called the Corporate Transparency Act (CTA) has gone into effect, which may require qualifying entities (known as reporting companies) to submit certain information to the Federal government that was not previously required to be reported. The CTA is aimed at combating money ...

On November 9, 2023, the IRS issued Revenue Procedure 2023-34, providing the annual inflation adjustments for tax provisions to be used by individual taxpayers on their 2024 returns. The adjustments include the following: For 2024, the estate, gift, and generation-skipping transfer tax exemption amount is $13,610,000, an increase from $12,920,000 for ...