Estate Planning

If you are considering engaging in estate planning or you may be inheriting assets, it is important to understand what the step-up in basis is and how it may affect you.

There are various benefits to creating a testamentary trust. This article discusses the benefits of adding a testamentary trust to your estate plan.

"Decedent" is a legal term that refers to a person who has died with unsatisfied legal obligations.

A charitable lead annuity trust (CLAT) is an estate planning tool whereby a person creates a trust that initially benefits a charitable organization, foundation, or other qualifying entity for a defined period.

Totten trusts, or payable-on-death bank accounts, are an estate planning tool that allows you to transfer money to a chosen person upon your death.

Although inflation is generally nothing to be pleased about, the IRS recently announced inflation-adjusted changes to the annual gift tax annual and estate tax exclusions for 2023. If you are considering wealth transfer tax planning, these are welcome increases.

Although estrangement can significantly impact individuals’ lives, it is not a legal term and, in many cases, might not have a legal effect.

Required Minimum Distributions (RMDs) are the minimum amounts a retirement plan account owner must take out each year. It is the responsibility of each retiree to take out the correct RMD from their retirement account each year.

Unfortunately, not all families get along. If you are having problems with one of your children, you may not want them to benefit from your estate. There are several strategies for dealing with an estranged child in your estate plan.

An executor, also called a personal representative, is the person responsible for managing the administration of a deceased person's estate.