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Estate Planning

Do Foreign Persons Have U.S. Estate Tax Responsibilities? By Melvin Perez, CFP®

Posted January 12, 2023

It is no secret that the U.S. tax code is complicated. For foreign persons, compliance with U.S. tax laws is particularly onerous, especially when considering that different rules apply for income and estate tax purposes, and neither depends on an individual’s immigration status. For income tax purposes, the U.S. presumes foreign persons to be nonresident […]

IRS Announces Inflation-Adjustments for 2023 Tax Rates By Scott Montgomery

Posted December 21, 2022

The inflation adjustments to various provisions of the tax code increase significantly in 2023 due partly to rising consumer prices and persistent inflation. It is important to consider these changes as you engage in estate planning and preparing for tax efficiency this year and in the years ahead. In some instances, you could find yourself […]

Should you Contribute to a Traditional 401(k) or a Roth 401(k)? By Olga Ismail

Posted November 2, 2022

Like many estate-planning strategies, the decision of whether to invest in a traditional 401(k) retirement savings plan or a Roth 401(k) comes down to taxes. More specifically, does it make more sense for you to pay taxes on your withdrawals in the future after you reach 59½ years old, or on the contributions you make […]

Understanding, Minimizing Exposure to the Dreaded Death Tax By Ryan Whiteman

Posted October 12, 2022

Not only is it true that death and taxes are the only certainties in life, but one’s death can come with significant tax liabilities. The key to minimizing these so-called “death taxes” is to put tax efficient estate plans into place while you are alive. The term “death tax” refers to money the federal government […]

UPDATED Avoiding the Most Common Estate Planning Disasters by Scott Montgomery, CLU, ChFC

Posted September 29, 2022

After gathering the documents needed to file annual federal income tax returns, take a moment to review all of your financial accounts before filing those papers away in a drawer. Most importantly, look at how those accounts are titled, who is named as beneficiaries and consider if that information matches with your current life circumstances […]

Don’t Forget Your Pets in Your Estate Plan By Robert Mark Weiss, CFA

Posted September 7, 2022

It is increasingly common for pet owners to make provisions in their wills to provide ongoing care of their furry companions in the event they pass away or become unable to do so on their own. Moreover, all U.S. states and the District of Columbia allow their residents to establish pet trusts and set aside […]

Selling a Business Requires Estate-Tax Planning By Eric P. Zeitlin

Posted July 28, 2022

Selling a company you put your heart and soul into building can provide significant rewards, including financial security for the remainder of your lifetime and potentially your heirs. Nevertheless, achieving that aim and reaping the full potential of the proceeds from a business sale requires careful reviews of where your business currently fits within your […]

What is a Spousal Lifetime Access Trust? By Lee F. Hediger

Posted June 22, 2022

One of the basic principles behind proper estate planning is to help ensure decedents’ hard-earned wealth passes to their heirs in the most tax-efficient manner, which often means minimizing exposure to federal estate and gift taxes. While there are a variety of trust vehicles and other strategies individuals may use to achieve this goal, a […]

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