The annual exclusion amount for 2024 is $18,000. This means that a person can give up to $18,000 to as many people as they like each year without incurring any taxes on the gifts.
Read More
You do not need to be wealthy to have a will. Generally, everyone should have a will. A will is a legal document that allows you to specify how you want your assets to be distributed after your death.
Read More
Probate is the legal process through which a deceased person's will is proven to be valid, and their estate is settled.
Read More
A Power of Attorney (“POA”) is a legal instrument that allows you to appoint an individual to handle financial and legal matters on your behalf. The individual you appoint (known as the attorney-in-fact) will be legally authorized to act and make financial related decisions.
Read More
Wills and Living Trusts are both common and very effective estate planning instruments used in directing the transfer of your property and assets upon your death. This article will help provide a general overview of each document.
Read More
As a parent, you cannot help but to think about who will care for your child if you passed away or became incapacitated. The last thing any parent would want is to have their child under the care of someone they do not believe is fit to serve as guardian.
Read More
There are certain assets whose disposition is directed entirely by beneficiary designations. Common assets include IRAs, 401Ks, 403Bs, retirement accounts, annuities, life insurance, and certain brokerage accounts (all referred to here collectively as “plans”).
Read More