The Internal Revenue Service (IRS) is considering a new rule that will impact retirement plans. The rule specifically addresses IRAs. What piece of legislation? The SECURE Act is gaining momentum within Congress. The proposal passed the House of Representatives in May...
Your will protects your personal wishes and your family's legacy. That will you made five or 10 years ago needs some changes. Like a house, your will needs minor updates and changes as time progresses. At home, the paint on your wall may have started to chip or the...
The dogs, cats and other animals we share our homes with become more than just pets. For many, these furry, feathered or even scaled companions become family members. As such, an increasing number of pet owners are taking steps to better ensure their pets receive a...
The Tax Cuts and Jobs Act (TCJA) increased the estate-tax exclusion rate. The rates increased from approximately $5.5 million to $11.4 million per person to or $22.8 million for a married couple. As a result, it is wise to consider putting certain estate planning...
The family cabin up north, right on the lake and away from the hustle and bustle of the city, is a source of treasured memories for parents and children. It's natural to want to pass that gift on to ensure future generations can enjoy it in the same way.So how do you...
Planning for the future can be a daunting task, especially when you don't even know where to start. One question to remember to ask is who makes decisions for you if you can't make them for yourself?One of those decisions could be related to advanced directives....
Don't have an estate plan? You are not alone. A 2017 study done by Caring.com found that only 42% of Americans have an estate plan. Unfortunately, the consequences of not having an estate plan can wreak havoc on your loved ones. Why? Because the state of Connecticut...
Baby Boomers and those who came before, referred to as Traditionalists or the Silent Generation, have different estate planning needs compared to Millennials and Gen Xers. Gen Xers and Millennials are often concerned with planning for the care of their children while...
Families with a high net worth may use a Family Limited Partnership (FLP) as part of their estate plan. This legal structure can be designed to provide three distinct advantages: Tax savings. The owner can have an FLP structured to reduce tax obligations. For example,...
Estate planning plays a vital role in protecting your loved ones and your legacy. Unfortunately, common estate planning myths can push people down the wrong path when it comes to protecting their wishes and their family.Myth: Not everyone needs an estate planOne of...
