Categories

Estate Planning

Donor-Advised Funds Gain Popularity as a Means of Charitable Giving By Eric P. Zeitlin

Posted August 1, 2023

According to the Giving Institute’s 2023 Annual Report on Philanthropy, charitable giving in the U.S. decreased more than 10 percent in 2022 from a record high the prior year. However, one area of giving that appears to be growing is the use of donor-advised funds (DAFs), which saw contributions and grants to philanthropic organizations increase […]

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

Posted July 27, 2023

One of the basic principles behind proper estate planning is to help ensure that 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, […]

Important Estate Planning Considerations Before Selling a Business By Eric P. Zeitlin

Posted July 12, 2023

Selling a company that 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 […]

7 Critical Considerations When Buying Life Insurance By Scott Montgomery, CLU, ChFC

Posted June 1, 2023

Life insurance is a vital estate planning tool intended to protect your family members from significant financial burdens and other economic risks that can occur when you pass away. However, no two policies are alike and navigating the world of life insurance can be quite complex. In the simplest terms, a life insurance policy is […]

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 and […]

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 your financial accounts before filing those papers in a drawer. Most importantly, look at how those accounts are titled and who is named as beneficiaries and consider if that information matches your current life circumstances and new […]

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 […]

4 Critical Actions to Help Recession-Proof Your Finances By Kathleen Marteney, CRPC

Posted June 16, 2022

Looking back over the past two decades of the subprime mortgage crisis and the COVID pandemic, we are reminded that good times do not last forever. In each of these circumstances, we learned that the best way to protect yourself during hard times is to plan and prepare for a potential downturn while the economy […]

You’re Never too Young to Begin Estate Planning By Sean Deviney, CFP®*

Posted May 19, 2022

Planning for retirement is often the last thing recent college graduates consider upon entering the job market and earning a steady income. However, there is no minimum age when people should start thinking about saving for the future, whether it is for the purchase of a new car or home, to support a growing family, […]

Avoiding Tax Traps in Your Financial Plan By Robert Mark Weiss, CFA

Posted April 28, 2022

Your income can come from various sources, including employment wages, business income, investment returns and even lottery winnings. As you receive money, it is important to recognize what you are required to report to the IRS and the amounts subject to federal taxes (and sometimes state and local taxes as well.) Understanding these concepts can […]

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