Estate Planning

living will

Creating a Living Will

Creating a living will ensures your future health care decisions and plans are respected. A living will, also known as an advance directive, is a legal document outlining medical treatment preferences and end-of-life care if you can’t communicate or make decisions for yourself. Everyone should have an advance directive, as end-of-life situations can happen at …

Creating a Living Will Read More »

Estate Tax Versus Inheritance Tax

Estate Tax Versus Inheritance Tax

These two forms of taxation relate to transferring wealth from generation to generation but are entirely different. The federal government levies a tax on all estates when the value meets a certain financial threshold. Twelve states and the District of Columbia levy additional estate taxes with separate thresholds. These residents must pay both federal and …

Estate Tax Versus Inheritance Tax Read More »

digital footprint

Handling a Loved One’s Digital Footprint After They Die

Most adults have not made a will, let alone created an estate plan addressing their online profiles and accounts. As your Digital Footprint grows professionally and personally, taking charge of your digital assets and plans for them after you die becomes important. Some social media companies like Facebook, Instagram, and Twitter provide users with options …

Handling a Loved One’s Digital Footprint After They Die Read More »

estate tax

Estate Tax Basics

In the US, estate taxes are levied on the transfer of assets from a deceased individual’s estate to their heirs or beneficiaries. An estate tax is not the same as an inheritance tax. It’s a tax on the total value of a person’s assets at the date of death. The estate pays the tax before …

Estate Tax Basics Read More »

Scroll to Top