Estate

A nonworking spouse can still have an IRA

It’s often difficult for married couples to save as much as they need for retirement when one spouse doesn’t work outside the home — perhaps so that spouse can take care of children or elderly parents. In general, an IRA contribution is allowed only if a taxpayer has compensation. However, an exception involves a “spousal” [...]

A nonworking spouse can still have an IRA2020-06-02T17:44:56+00:00

Why you should keep life insurance out of your estate

If you have a life insurance policy, you probably want to make sure that the life insurance benefits your family will receive after your death won’t be included in your estate. That way, the benefits won’t be subject to the federal estate tax. Under the estate tax rules, life insurance will be included in your [...]

Why you should keep life insurance out of your estate2020-03-17T13:42:27+00:00

Flex Plan – In an unpredictable estate planning environment, flexibility is key

The Tax Cuts and Jobs Act (TCJA) made only one change to the federal gift and estate tax regime, but it was a big one. It more than doubled the combined gift and estate tax exemption, as well as the generation-skipping transfer (GST) tax exemption. This change is only temporary, however. Unless Congress takes further [...]

Flex Plan – In an unpredictable estate planning environment, flexibility is key2020-01-10T02:36:47+00:00