November 2023
14 Essential Questions to Ask Aging Parents This Holiday
Thanksgiving is a time when many families come together. About 45 percent of adults surveyed said they planned to travel for the holiday, per The Vacationer. With multiple generations gathering around the table, the annual meal [...]
Baby Boomers: Inheritance Conversations With Your Children
Not talking to your adult children about their inheritance comes at a cost. Do what you can to manage expectations for adult children as they forge their financial plans. Knowing their general inheritance situation can [...]
2024 Annual Gift and Estate Tax Exemption Adjustments
With the arrival of the new year, revisions to the annual gift tax and estate tax exclusions will be going into effect, as recently announced by the Internal Revenue Service (IRS). Gift Tax Exemption for 2024 Every [...]
What Is a Power of Attorney?
A power of attorney allows you to appoint an attorney-in-fact or agent, which can be an individual or an institution. Your agent acts in your place for financial or medical purposes if you ever become incapacitated or can't act [...]
Should My End-of-Life Care Plan Include a Death Doula?
Death doulas are available for people who are approaching the end of their lives, whether it is because of advanced age or illness. The service these professionals provide can help families and individuals who need [...]
What Is Cost Basis and How Do You Prove It?
Knowing the cost basis of your property is important for tax purposes, but proving cost basis can be difficult. Cost basis adjusts at death, so it is always a good idea to appraise your property [...]
Using a QTIP Trust in Estate Planning
Estate planning is crucial when managing valuable assets and ensuring the smooth transfer of wealth to future generations. There are various types of estate planning tools available, some of which may be more useful depending [...]