With the overwhelming amount of information we share online, there are things you may want to do to help secure your privacy for years to come.
Over the past decade, we have seen an increasing volume of documents—from contracts to tax returns to books and photos—being created and stored only in electronic form. So, are electronically executed and stored estate planning documents on the way? This article discusses some of the issues surrounding electronic wills and legislation in the area.
Every state has legislation authorizing the use of some form of advance health care directive—a power of attorney, a living will, or both. This article reviews the ways a person can make his or her desires known to family, medical professionals, and others regarding his or her medical care, and avoid time consuming probate or being subject to arbitrary statutes imposed by the state.
Jeff Chadwick, a member of the Wealth Preservation Practice Group at Winstead PC, offers this broad overview of lifetime gifting strategies, focusing on the 99.8% of Americans without taxable estates. Advisors working with these clients should identify their non-tax objectives and focus their planning on minimizing income tax and reporting obligations.
No one can anticipate all the future changes in their family dynamics and personal finances, much less the applicable tax laws, but there is one tool you can implement that will incorporate flexibility into your estate plan – powers of appointment. Learn how the use of powers of appointment could position your beneficiaries to avoid unintended distribution of your estate and help you capitalize on tax law changes.
The Tax Cuts and Jobs Act provided significant estate planning and gifting opportunities, but the window to seize those opportunities will close at the end of 2025 if the sunset provision in the TCJA remains in place. Learn strategies to consider in order to negate or greatly reduce potential estate taxes, and why the time to start implementing these strategies is now.