Estate planning can encompass a wide range of instruments that can preserve wealth and provide your grandchildren with an education that will serve them well in the future. But just leaving them a large sum of money in your will that you’ve earmarked for “education” may not be the best idea. … [Read more...] about Educational Trusts for Grandchildren
How Do Advanced Directives Work?
Advanced directives are for end-of-life care as well as periods of temporary incapacity. Most people believe they are just for frail elderly people. But nearly anyone can be in an incapacitated state where they are unable to speak for themselves. You’ve probably heard the term “advanced … [Read more...] about How Do Advanced Directives Work?
Will You Be Subject to Federal Estate Tax Payments Upon Your Death?
While planning your estate, you’ll carefully consider what to give to each of your beneficiaries carefully—your spouse, children, grandchildren, other relatives, and even friends. But there is one thing that you may not have yet considered: federal estate taxes. One of the many roles an … [Read more...] about Will You Be Subject to Federal Estate Tax Payments Upon Your Death?
Pandemic Tax Law Changes
The continuing COVID-19 pandemic continues to lead the US and the world in changes to everything in daily life. In response, Congress and state legislatures rushed to pass bills to ease the difficulties caused by the shutdown of so many businesses that left many people in a lurch. To help … [Read more...] about Pandemic Tax Law Changes
Inheritance Tax And An Estate Tax In Glenview, IL?
One consideration in any will and/or estate plan is the type of taxes your beneficiaries could potentially face when the time comes. Will they forfeit their inheritance or at least some of it? Will they face taxes that exceed what they receive, or significantly impact their yearly income? It’s … [Read more...] about Inheritance Tax And An Estate Tax In Glenview, IL?
