Estate Planning · January 15, 2024
Recent changes to the FAFSA rules are a game-changer for grandparents looking to support their grandkids' education. Our latest blog delves into the FAFSA Simplification Act and its impact on 529 college savings plans. Learn how these adjustments allow for more significant contributions without affecting financial aid eligibility. It's an exciting development for family financial planning, offering a new way to invest in your grandchild's future without compromising their aid opportunities.
Estate Planning · September 07, 2018
A lot of times, people hide their Wills or estate planning docs in secret locations where they'll likely never be found after their death. Or they'll put their Will in the care of unreliable caretakers, whom may forget they even have the documents and never truly know when is the right time to present it to the family after your death. Consider this illuminating case that winded its way through the NY court system and provides a cautionary tale about safeguarding your documents.
Estate Planning · March 02, 2018
They say the Tax Cuts and Jobs Act is the biggest overhaul of the US tax system in 30 years. The impact will spread far and wide, starting with a significant cut in the corporate rate from 35% to 21% and lower levies on repatriating overseas profits. Yet, like the rest of us, you're probably wondering, "So, what does that have to do with me?" Even with the biggest impact aimed at businesses, there are still several changes to the personal income tax laws, and we highlight them here just for you!
Estate Planning · February 16, 2018
Although parents will never ask for help, at some point they might need it or you'll want to step in to assist them. Helping parents become financially stable can be hard without the right information and knowledge about their current financial situation. Further, getting access to different accounts and making important decision on their behalf will not happen unless you are given the required legal authority to do so.
Business · February 09, 2018
People often assume a Will is everything they'll need to take care of their business when something bad happens to them, but that can actually cause more problems and cost for their family than necessary. To ensure your business is passed on to your family exactly the way you want, you need to have a comprehensive plan that takes your life and business into account. Now check out these 4 key elements every business owner must have in their plan.
Estate Planning · December 29, 2017
There are many options when it comes to managing your assets for retirement, but which ones really give you the best security throughout life while you're still growing and saving? Here are just a few of the benefits with for transferring your 401(k) assets into an IRA. Let the real saving and growth begin!
Estate Planning · December 22, 2017
Studies have shown during both the good times and the bad how family values remain at the top of the most important things parents (& grandparents) want to pass down to their heirs. Yet many estate planning professionals fail to help their clients capture these words of wisdom, morals, and meaningful possessions in their estate plans, because most of it remains intangible while a lot of estate planning is about moving only the tangible to the next generation. Not anymore!
Estate Planning · December 08, 2017
We're getting close to the end of the year, and a major reform to the tax code (the largest we've seen since the 80's) is just on the horizon. While nothing has been finalized yet, there are some similarities in both the House and Senate versions of the reform bill that we can see and begin planning now! The big changes we see to your personal taxes involve mortgages, children, estate exemptions, and the standard deduction itself.
Estate Planning · November 24, 2017
We're now seeing more people than ever before beginning to downsize their lives. Some are doing it as they're heading into retirement, and others just to simplify things and live more contemporary lifestyles. Regardless of their reasons, there's now a surplus of "stuff" that needs to be dealt with, and there are multiple ways you can help your family members take care of it.
Estate Planning · November 17, 2017
It is becoming increasingly easier to draft a Will online. Today, many websites offer legal services with do-it-yourself question-answer forms that generate the standard language you'll typically see in most wills. Yet, these online forms are not built with artificial intelligence, and not all wills should be "standard". Here's an example of what could happen when you don't review your Will with an attorney.