Around the Web: New Plan for Inherited Real Estate Could Impact Many
President Biden has unveiled a new plan that involves increasing taxes on inherited properties in order to help fund the American Families Plan. This CNBC article delves into the possible outcomes of this new plan, explaining that financial experts suggest the new plan may impact more families than just the more affluent ones. We’ve broken […]
The Types of Power of Attorney, What They Mean, and What to Know
It’s sad but true: estate planning continues to be a major form of personal protection that Americans overlook. When it comes to power of attorney specifically, just over half of all U.S. adults have one in place. Though it’s tempting to plug our ears and hope we’ll live forever, the truth is that a power of attorney […]
Around the Web: Preparing Estates After New Tax Proposal
In a recent article published by Kiplinger, the article stresses the importance of wealthy individuals acting quickly to prepare their estates after details of Bernie Sanders’s Estate Tax Proposal. After Sanders’s Estate Tax Proposal, a bill known as the “For the 99.5% Act,” among other proposed changes to estate and gift tax policies, anyone with […]
What is Estate Planning? And Do You Actually Need It?
More young Americans have been creating an estate plan due to recent world events. After all, you never know what’s going to happen. Estate planning is the official process of arranging and anticipating what will happen in a person’s life if they are incapacitated or after their death. This involves passing down assets to heirs and planning […]
Around the Web: Estate Planning and Home Ownership After a Death
In a recent article written by nwitimes.com, this question was asked in regard to estate planning. “My father passed away recently, how do we remove his name from the title to the home? Can we record a death certificate or have mom sign a new deed?” This is a normal estate planning question, and the […]
What Is the Difference Between a Will and a Trust?
You know you aren’t going to live forever, so it’s important to make preparations for the inevitable. The terms will and trust get thrown around a lot when it comes to planning for the future, but is there a difference between a will and a trust? Do you need one or the other? Do you need to have both? Continue reading […]
Around the Web: A New Administration Could Mean New Changes to Your Estate Plan
With Democrats taking control of both houses of Congress and President Biden’s new administration in the White House, many folks may be concerned about their estate plans and changes that may come with a new tax reform. This Forbes article suggests that while there is a possibility that tax reform could pass later on in […]
When Is the Best Time to Buy Long Term Care Insurance?
The market for long-term care services is currently underserved. It’s estimated that 12 million Americans need long-term care. Yet, only around 8 million people receive these services in the US each year. One of the most significant barriers to people who need long-term care services but don’t utilize them is cost. Luckily, long-term care insurance can help reduce the […]
Around the Web: Start Your Year Off Right with an Estate Plan
2020 was a very unusual year, and if it taught us anything it is that we should always be prepared for the worst. The best way to start the new year off right is by resolving to create an estate plan! It may sound grim, but it truly is a great way to gain peace […]
Easy-to-Follow Guide If You’re Looking for Estate Planning Tips
Did you know that the number of middle-aged Americans with estate plans dropped by 25 percent since 2019? Did you drop the same estate planning ball your peers did? You cannot be sure what happens to your possessions after you die unless you have an estate plan that gives you confidence. Don’t put this off another day. […]