1 12, 2023

5 Rights That a Trust Beneficiary Has

2023-12-01T03:01:39-05:00December 1st, 2023|

As a trust beneficiary, you may feel you're at the mercy of the trustee. However, depending on the type of trust, beneficiaries may have rights to ensure the trust is properly managed. Trustee vs. Beneficiary A trust is a type [...]

27 11, 2023

14 Essential Questions to Ask Aging Parents This Holiday

2023-11-27T02:56:46-05:00November 27th, 2023|

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 presents an opportunity to broach [...]

20 11, 2023

Baby Boomers: Inheritance Conversations With Your Children

2023-11-20T02:43:35-05:00November 20th, 2023|

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 change their decision-making process and [...]

17 11, 2023

2024 Annual Gift and Estate Tax Exemption Adjustments

2023-11-20T02:44:12-05:00November 17th, 2023|

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 calendar year, you can gift [...]

13 11, 2023

What Is a Power of Attorney?

2023-11-13T06:16:50-05:00November 13th, 2023|

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 on your own behalf. The [...]

10 11, 2023

Should My End-of-Life Care Plan Include a Death Doula?

2023-11-10T02:34:50-05:00November 10th, 2023|

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 additional supportive care. Adding a [...]

6 11, 2023

What Is Cost Basis and How Do You Prove It?

2023-11-06T02:43:35-05:00November 6th, 2023|

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 when a joint owner dies. [...]

3 11, 2023

Using a QTIP Trust in Estate Planning

2023-11-03T03:47:42-04:00November 3rd, 2023|

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 on your circumstances. For some, [...]

27 10, 2023

What to Know About Creating a Living Will

2023-10-26T07:37:05-04:00October 27th, 2023|

Creating a living will ensures your future health care decisions and plans are respected. A living will, or advance directive, is a legal document outlining medical treatment preferences and end-of-life care if you can’t communicate or make decisions for yourself. [...]

16 10, 2023

Should a POLST Be Part of Your Care Plan?

2023-10-16T02:23:45-04:00October 16th, 2023|

The American Hospital Association estimates that half of Americans suffer from chronic conditions like heart disease, diabetes, and cancer. Following a diagnosis, many experience concerns about the kind of care they will receive. They may worry about how invasive it will be, [...]