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 »
It may be tempting to believe creating your estate plan with do-it-yourself documents will save you money. However, it can be costly in the end, both financially and in terms of family wellbeing. Estate planning involves important decisions about how your assets will be distributed after you die and who will manage your affairs. Online
The Perils of Do-it-Yourself Estate Planning Read More »
Understanding Estate Taxes and How to Minimize Them In the United States, estate taxes are charged on the total value of a deceased person’s assets before distribution to heirs. This is different from an inheritance tax, which is paid by the beneficiary based on what they individually receive. U.S. Estate Tax Overview Estate taxes only
An estate plan distributes assets according to your wishes and ensures loved ones are cared for after your death. It requires organization and strategy and begins with 5 Major Components of Estate Planning, these are the key legal documents that can address many areas of estate planning concerns. Proper estate planning can provide tax savings
5 Major Components of Estate Planning Read More »
Generation-Skipping Transfer (GST) Tax: What You Need to Know Generation-skipping transfer (GST) tax is a federal tax on transfers of property that skip a generation of heirs. Its purpose is to prevent wealthy individuals from avoiding estate and gift taxes by transferring assets directly to grandchildren or other “skip persons,” bypassing their children. The GST
Generation-Skipping Transfer Tax Read More »