Will My Debt Outlive Me? Your Questions About Debt After Death Answered

Have you ever wondered what would happen to your debts if you passed away before paying them off? Will your loved ones be obligated to pay your debts or will they simply disappear? Every person’s debt landscape is different, and the best approach is to create a tailor-made estate planning strategy to make sure your debt doesn’t come back to haunt your family after you’re…

Ready? Okay! The Team Approach to Client Service in 2018 and Beyond

How are you planning to strengthen your client relationships in the new year? Effective collaboration as a client-service wealth team helps your clients trust you, creates better client retention, and yields greater opportunities for placement of appropriate products and growing assets under management. Estate planning is about much more than just taxes Many professionals see estate planning as a tax-focused discipline. However, estate planning encompasses…

How Tax Reform Will Impact You and Your Estate Planning

In December 2017, Congress passed, and President Trump signed a sweeping tax reform bill commonly known as the Tax Cuts and Jobs Act. This Act contains significant changes that will impact your estate planning and income tax situation going forward. Estate Tax Changes Starting January 1, 2018, the estate, gift, and generation-skipping transfer (GST) tax exemptions double from $5 million to $10 million (adjusted for…

Tax Reform: Solutions for Your Clients and Their Estate Planning

In December 2017, Congress passed, and President Trump signed a sweeping tax reform bill commonly known as the Tax Cuts and Jobs Act. This new Act contains several significant changes that will impact your clients and their estate planning. Estate Tax Changes Starting January 1, 2018, the estate, gift, and generation-skipping transfer (GST) tax exemptions double from $5 million to $10 million (adjusted for inflation).…

What to Expect from Estate Planning in 2018

2017 is now fading into the rearview mirror. As we all look ahead to 2018, let’s consider a few things to watch regarding estate planning, so you and your family can be completely protected. ● The death tax. The death tax has been in a state of flux ever since the early 2000s when the Bush administration’s first tax cuts changed the exemption and tax…

There’s Never A Better Time Than Now To Get Your Affairs in Order

The idea of getting your financial and legal house in order is likely the last thing on your mind during the busy holiday season. But, getting started is much easier than you think. In fact, the end of the year is a good time to reflect upon the year that has passed and focus on your aspirations for the future. Don’t hold this task off…

Last-Minute Opportunities Before the New Tax Law Takes Effect

(Below is an article about last minute planning considerations in light of the new tax act written by my colleague Andreea Olteanu, JD of WealthCounsel.) With 2017 coming to an end and sweeping tax reform legislation (Act) having been signed into law, some last-minute opportunities should be considered while the current law still applies. There are steps that taxpayers can take before the Act takes…

Exciting New Opportunities under the Recently-Enacted Tax Cuts and Jobs Act

Congress has just passed, and President Trump is expected to sign the Tax Cuts and Jobs Act. Although continued study of the bill will undoubtedly reveal additional opportunities, I wanted to share some of the immediately available opportunities for your clients. Significant Changes to Business Taxation Every business owner must have his or her business ownership structure and tax status reviewed immediately. Relying on old…

Back From The Dead

Just in time for Halloween, the IRS has announced that the plan to put a stake through the heart of the estate and gift tax killer technique known as “discounting” is no more. As you may recall, I wrote a post last year alerting readers that a time-honored technique to minimize estate and gift taxes was at risk. The technique utilized the transferring FLP or…

How to Jumpstart Your Clients’ Year-End Planning

Don’t Wait Until the Busy Holiday Season As summer fades in the rear-view mirror, it’s a good time to give yourself a reality check: Clients never have enough time to meet for year-end planning during the busy holiday season (and you might not, either), which is why you should be proactive and meet with them now — even if it seems too early to do…

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