I have been diagnosed with brain damage and dementia. Word to the younger folks: I woke up last year and suddenly could not spell or write legibly. No warning. No symptoms.
If the strategy is executed properly, an individual can disclaim interest in an inherited IRA and avoid any of the gift and income tax consequences associated with receiving the property.
Establishing an incapacity plan is crucial in estate planning. Learn how to protect your finances and make your wishes known in our comprehensive guide.
Understanding the differences between Medicaid planning and estate planning is crucial for anyone looking to secure their financial future and ensure that their healthcare needs are met in their later years. While each serves distinct purposes, they are often interconnected, requiring careful coordination to achieve your overall planning objectives. Learn more about how you can protect your assets, ensure access to necessary care and leave a legacy for your loved ones.
While adding a child to your home's deed might seem straightforward to manage your estate, it's fraught with potential problems and complications. This article reviews the implications and alternatives to adding a child to your home’s deed, with the goal of ensuring your estate plan is effective, efficient, and aligned with your long-term intentions.
As you plan for the year ahead, you may be thinking about how the IRS’ changes to income tax brackets and standard deductions—which include a 5.4% bump in bracket thresholds—could impact the 2024 income tax planning season.
