The federal estate tax threshold rose to $27.22 million in 2024 for married couples and $13.61 million for individuals as part of the Tax Cuts and Jobs Act (TCJA). Like several TCJA provisions, the higher estate tax
Determining the value of an estate is a fundamental first step in estate management and a critical requirement for settling a decedent’s estate.1 How to Assess the Value of an Estate Select the date of calculation. Because
Federal estate taxes have been a source of funding for the federal government almost since the U.S. was founded. In 1797, Congress instituted a system of federal stamps that were required on all wills offered for probate
You’re young, have little in savings, and might not have anyone relying on you, financially. So, why do you need to think about estate management?1 Here are four great reasons: Estate Strategies: They're Not Just for the
Many of us hope to leave something behind for our loved ones when we pass away. But the probate process is complex. To understand how to better manage potential probate fees, let’s explore what probate is and
Only one-third of adults have an estate strategy document such as a will in place, which may not be entirely surprising. No one wants to be reminded of their own mortality or spend too much time thinking
Preparing your estate can be complicated, and if you’re a part of a blended family, estate decisions can be even more complex and nuanced. Blended families take on many forms, but typically consist of couples with children
Do you have a will? A will enables you to specify who you want to inherit your property and other assets. A will also enables you to name a guardian for your minor children. Do you have
Financial Documents Healthcare Documents Note: Power of attorney laws can vary from state to state. An estate strategy that includes trusts may involve a complex web of tax rules and regulations. Consider working with a knowledgeable
A living trust is a popular consideration in many estate strategy conversations, but its appropriateness will depend upon your individual needs and objectives. What is a Living Trust? A living trust is created while you are alive
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