Busting the Myths About Living Trusts

Living trusts are a popular component of many estate plans, as they allow you to control the property and assets in the trust until your death when they will be turned over to the trustee that you named. The trustee will then take care of distributing your property in line with your wishes. Because the [...]

July 7th, 2021|Newsletter|

How to Renovate Your Home As You Age

Many seniors face a difficult decision as they age and their current home no longer matches their needs. Some seniors explore the housing market only to find that moving out of their current home and into a new one could be a hassle. One of the best ways to make your current home into your [...]

June 9th, 2021|Newsletter|

Should You Invest in Long-Term Care Insurance?

Medical costs continue to climb, and as we use more medical services as we age, the burden can become even more severe. While Medicare and Medicaid will offset some of the financial costs associated with long-term care, you might need to dramatically decrease your assets to qualify for coverage. Long-term care insurance protects your assets [...]

May 14th, 2021|Newsletter|

The Mail You’ll Get After You’re Gone

Checking the mail is part of the daily routine of millions of Americans, and while you might receive more promotional coupons than important documents, that doesn’t mean that important documents won’t still be arriving in your mailbox after death. What will happen to your mail after you are no longer here to receive it? Who [...]

April 2nd, 2021|Newsletter|

Is Your Inheritance Taxable?

Whenever someone passes away, their assets are distributed in accordance with their wishes to beneficiaries. Thanks to tax code regulations, significant amounts of assets are exempt from estate taxes. Currently, most estates valued at $11,580,000 or less will not be subject to federal taxes. Most of the inheritances received are totally tax-free. However, that doesn’t [...]

February 26th, 2021|Newsletter|

Changes to Charitable Contributions Deduction in 2020 and 2021

Congress has been encouraged by the generosity of Americans during the COVID-19 crisis, and they want to encourage people to continue giving in the new year. The Taxpayer Certainty and Disaster Tax Relief Act has changed how charitable contributions will be handled during the 2020 and 2021 tax years. Here’s what you need to know. [...]

February 12th, 2021|Newsletter|

The Best Way to Give Money to Your Adult Children

Even if your child has left the proverbial nest, they could still often benefit from financial support. Whether it’s helping with the down payment for a house or giving them the monetary boost to achieve something that they otherwise could not, giving money to your adult children can be easy if you understand the laws [...]

December 22nd, 2020|Newsletter|

Unemployment Benefits Are Taxable Income

The passage of the CARES Act earlier this year was designed to help ease the financial burden of the COVID-19 pandemic on people who lost their jobs. As part of the stimulus, the federal government added $600 a week to state unemployment benefits and increased the number of benefit weeks to 39.  What do you [...]

November 23rd, 2020|Newsletter|

What Happens if a Relative Dies Without a Will?

Unfortunately, everyone is not able to complete their estate planning process before passing away. In the event that a relative or loved one dies without a will, what can you expect to occur in the aftermath? The Process After a Relative Dies Without a Will First, state law will be consulted depending on where the [...]

September 22nd, 2020|Newsletter|