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26 07, 2021

Using a Minority Valuation Discount to Reduce Estate Taxes

2021-07-25T11:20:08-04:00July 26th, 2021|

While the current estate tax exemption is quite high, a closely held family business may put your estate over the limit. Careful planning is necessary to lower or completely avoid the tax, and minority valuation discounts are one strategy. Families [...]

23 07, 2021

Be Careful Not to Name Minors as Your Beneficiaries

2021-07-23T08:30:00-04:00July 23rd, 2021|

Most people want to pass their assets to their children or grandchildren, but naming a minor as a beneficiary can have unintended consequences. It is important to make a plan that doesn’t involve leaving assets directly to a minor.   [...]

19 07, 2021

You May Be Overestimating Your Social Security Benefits

2021-07-19T10:54:23-04:00July 19th, 2021|

Studies have found that workers overestimate how much they will receive in Social Security benefits when they retire. Having a good understanding of the realities can help you plan for retirement.  Researchers from the University of Michigan studied the expectations of [...]

5 07, 2021

Why Everyone Should Have an Estate Plan

2021-07-05T08:21:44-04:00July 5th, 2021|

Do you have a will? A durable power of attorney? A health care proxy? If so, no reason to read on. If not, why not? Failure to create an estate plan risks causing discord in your family for generations to [...]

2 07, 2021

The Need for Medicaid Planning

2021-07-02T09:13:34-04:00July 2nd, 2021|

One of the greatest fears of older Americans is that they may end up in a nursing home. This not only means a great loss of personal autonomy, but also a tremendous financial price. Careful planning can help ease the [...]

28 06, 2021

Passing Assets to Grandchildren Through a Generation-Skipping Trust

2021-06-28T10:56:29-04:00June 28th, 2021|

Passing assets to your grandchildren can be a great way to ensure their future is provided for, and a generation-skipping trust can help you accomplish this goal while reducing estate taxes and also providing for your children.   A generation-skipping [...]

21 06, 2021

What Is a Directed Trust and What Are Its Benefits?

2021-06-21T09:34:36-04:00June 21st, 2021|

Directed trusts can be a useful estate planning tool, allowing you to place your family’s assets in a trust but benefit from the expertise of an advisor who knows more about the handling of certain trust functions than you may.  [...]