As we enter 2025, it’s important to stay informed about the current federal estate and gift tax laws, including annual exclusion limits and significant changes anticipated by the end of this year.
Annual Exclusion Amount-...more
1/9/2025
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Charitable Donations ,
Estate Planning ,
Estate Tax ,
Exclusions ,
Exemptions ,
Federal Taxes ,
Financial Planning ,
Gift Tax ,
Internal Revenue Code (IRC) ,
Irrevocable Trusts ,
SLAT ,
Tax Liability ,
Tax Planning ,
Trusts
Many people create a revocable living trust to avoid probate, maintain privacy, and ensure smooth estate distribution. However, these benefits only apply if you properly “fund” your trust, meaning you must transfer assets...more
Adding an adult child as a joint owner of a parent’s bank account seems like a simple and straightforward solution that allows the child to help care for mom or dad without the expense or hassle of preparing powers of...more