Handle an inherited IRA with care -
An inherited IRA can be a welcome financial windfall. But the rules governing required minimum distributions (RMDs) from these tax-deferred accounts are complex. IRA recipients should...more
Now’s the time to review your GST tax exposure
Absent congressional action this year, the federal gift and estate exemption and the generation-skipping transfer (GST) tax exemption (currently $13.99 million) are scheduled...more
Managing your residuary estate -
Even with a comprehensive estate plan, it’s likely you’ll have some assets in a residuary estate. Like the sediment at the bottom of your glass after you finish a fine wine, an estate plan...more
Moving to another state?
Revisit your estate plan -
If you recently relocated to a new state — or you’re planning such a move — it’s a good idea to review and update your estate plan. You won’t have to throw out your...more
Revocable trusts -
Don’t forget to fund the trust throughout your lifetime -
Many estate plans are built around revocable trusts (sometimes called “living trusts”). These trusts allow you to 1) avoid the time, expense...more
How planning can minimize the impact of income taxes -
Until recently, estate planning strategies generally focused on removing as much wealth as possible from one’s estate to avoid the bite of federal estate tax....more
Rising rates spark interest in charitable remainder trusts -
If you wish to leave a charitable legacy while generating income during your lifetime, a charitable remainder trust (CRT) may be a viable solution. In addition...more
10/25/2022
/ Asset Management ,
Estate Claims ,
Estate Planning ,
Estate Tax ,
Inheritance ,
IRS ,
Life Insurance ,
Retirement Funds ,
Tax Planning ,
Trustees ,
Trusts ,
Wealth Management
South Carolina recently joined the growing number of states to enact legislation that provides a state workaround to the $10,000 State and Local Tax (SALT) federal income tax deduction cap imposed on individual taxpayers by...more
Don’t overlook foreign assets when planning your estate -
You’d be surprised how often people fail to disclose foreign assets to their estate planning advisors. They assume that these assets aren’t relevant to their “U.S.”...more
6/2/2020
/ Asset Management ,
Beneficiary Designations ,
Charitable Deductions ,
Charitable Donations ,
Estate Planning ,
Estate Tax ,
Federal Taxes ,
Generation-Skipping Transfer ,
Gift Tax ,
Income Taxes ,
Tax Exemptions ,
Tax Planning ,
Trusts