Did you know that a 529 Plan may be more than just a college savings plan? It can be a useful asset for estate planning. Let us discuss three benefits to using a 529 plan as an estate planning tool. Tax-free gifts. A 529 plan allows you to give money to beneficiaries...
A parent may have a child or a grandchild that is not responsible when it comes to managing his or her money. A major concern is what will happen if that child or grandchild is left a significant inheritance through a will or a trust. One possible, unfortunate,...
Estate planning involves the protection and transfer of wealth, often from an individual to his or her family members and designated beneficiaries. Last will and testaments and trust agreements are usually the main vehicles to accomplish this inter-generational asset...
An unfortunate trend occurring among older adults over the past several decades is an elevated rate of divorce. While divorce among younger couples is still more prevalent, more and more couples over age fifty, are ending their marriages in so-called “Gray Divorces.”...
For both parents and children, discussing what will happen in the event of a loved one’s incapacity or death can be uncomfortable and emotionally taxing. Many of our clients tell us that they do not feel comfortable sharing details about financial matters or...
One of the best times to update an existing estate plan is at the beginning of a new year. Getting ahead on the previous year’s tax changes, market fluctuations, or life events that may have significant effects on your plan going forward could save you as issues arise...
