Totten Trust Can Protect Your Money for Your Loved Ones
Totten trusts, or payable-on-death bank accounts, are an estate planning tool that allows you to transfer money to a chosen person upon your death.
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IRS Raising Annual Gift Tax and Estate Tax Exclusions in 2023
Although inflation is generally nothing to be pleased about, the IRS recently announced inflation-adjusted changes to the annual gift tax annual and estate tax exclusions for 2023. If you are considering wealth transfer tax planning, these are welcome increases.
No Will? You’re Putting Your Kids at Risk
As the recent death of Anne Heche shows us, not having a will can place a significant burden on your children and cause undesirable complications.
Be Cautious of Generic Health Care Proxy Forms
If you have ever been admitted to the hospital, you have likely been asked to sign a health care proxy form.
Who Are Parties to an Estate?
When people pass away, their assets go through probate. The parties to an estate are the people involved in the probate process.
What Not to Include in Your Will
If you are considering preparing a will, this is a great first step in planning for the future. After reflecting on the basics, such as whom you want to be in charge of administering your wishes, you may wonder if…