Apr 8, 2021 | Estate Planning, Estate Tax, Income Tax
For years now when potential clients indicated they are worried about death taxes, we have been able to alleviate those fears. The large estate tax exemption, along with stepped up basis provisions in the Internal Revenue Code, have made it so most families are...
Oct 9, 2020 | Estate Planning, Probate, Wills and Trusts
Those who do not learn from history, are doomed to repeat it. Readers, please take this statement to heart. Many people spend more time planning for their vacation than they do for taking care of their family when they are gone. It is inevitable that we will all...
Oct 8, 2020 | Estate Planning, Estate Tax, Wills and Trusts
Reduced Estate Tax Exemption Solution Estate taxes have not been a real concerned for most clients for the past several years. With a current estate tax exemption of $11.58 million per individual the tax did not apply to all but the wealthiest of...
Oct 2, 2020 | Estate Planning, Income Tax, Retirement, Retirement Accounts, Wills and Trusts
Advisors are Examining Charitable Remainder Trusts for IRAs Charitable Remainder Trusts are not new to estate planning. For people with charitable intent they have been used for quite some time when dealing with highly appreciated assets. Now, however, they are...
Sep 29, 2020 | Estate Planning, Income Tax, Retirement, Retirement Accounts
2020 has brought so many changes with it. Perhaps one most people are not thinking about is the implementation of the SECURE Act. See http://joneselderlaw.com/what-will-the-secure-act-do-to-your-ira/. With the elimination of the favorable Stretch IRA provisions,...
Sep 24, 2020 | Estate Planning, Retirement
In a previous post, we discussed the important of using the step up in basis to avoid capital gains on your appreciated assets. See http://joneselderlaw.com/?p=746. There is another often overlooked aspect of the step up in basis and that is the step up a...
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