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Estate Planning Blog

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Power of attorney

What are the Biggest Mistakes People Make with Social Security?

Posted on: August 1, 2023
Whether you're counting on Social Security to fund most of your retirement income or supplement it, you want to make sure you get all of the money you're entitled to.
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What Is a ‘Step-Up’ in Basis in Estate Administration?

Posted on: July 27, 2023
The “step-up” in basis has to do with the calculation of the capital gains on the sale of property.
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Can You Keep a Vacation Home in the Family for Generations?

Posted on: July 27, 2023
The family vacation home is often a point of pride, a place for reconnecting and making memories. A vacation home, whether it’s in the mountains, near the sea, on a lake, or on a farm, can have sentimental as much as economic value.
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What Happens to Digital Assets on Death?

Posted on: July 17, 2023
If you haven’t properly accounted for these things, your heirs may not be able to access these assets when you’re gone.
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Completed Gifts to Grantor Trusts Not Eligible for Section 1014 Step-Up

Posted on: July 17, 2023
On March 30, 2023, the Internal Revenue Service issued Revenue Ruling 2023-2, which directly impacts a wide range of irrevocable trusts, including grantor retained annuity trusts, qualified personal residence trusts, insurance trusts and other intentionally defective ‘grantor trusts.’
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Law-Last-Will-And-Testament

Who Pays Taxes, the Estate or the Heirs?

Posted on: July 17, 2023
The heirs of an estate can be liable to pay the estate or income taxes (and perhaps other obligations) of the estate.
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age in place

What Are My Elder Care Options?

Posted on: July 13, 2023
The time to start researching elder care facilities, experts recommend, is before you need one. There are numerous options for elder care, and you don’t want to be caught flat-footed in the event of an unexpected health crisis. Those sudden situations can force you to make a quick decision without the knowledge to make an informed choice.
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gifting assets

How Does A Reverse Mortgage Work?

Posted on: July 13, 2023
A reverse mortgage can make it possible for older homeowners to remain in their home and supplement their retirement income. While you receive a steady influx of cash from a reverse mortgage, it’s ultimately a loan that needs to be repaid.
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How Does a Special Needs Trust Work?

Posted on: July 5, 2023
If you have a family member with special needs, you might face emotional and physical issues. However, you also may be concerned about maximizing the financial support that your loved one requires.
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