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Life Insurance as Part of Your Estate Plan

If you own life insurance policies at your death, the proceeds will be included in your taxable estate. If estate taxes are a concern, the way around this problem is not to own the policies when...

Beware Leaving Specific Assets to Specific Heirs

Planning your estate around specific assets is risky and, in most cases, should be avoided. If you leave specific assets to specific people, you could inadvertently disinherit them...

Review Older Estate Plans for Formula Funding Clause

The gift and estate tax exemption is higher than it’s ever been, so older plans that may have a "Formula Funding Clause" should be reviewed for needed updates. Here's a closer look...

College Financing as Part of Your Estate Plan

The rising cost of college makes it critical for families to plan carefully, and in many cases grandparents want to play a role. As you consider financing, consider the effects on your estate plan...

Art Donations as a Part of Your Estate Plan

Charitable giving is a key part of estate planning for many people. If you have a collection of valuable art and are charitably minded, consider donating one or more pieces to receive tax deductions..

Create a Road Map for Your Estate Plan

In addition to your legal documents, it's wise to create a “road map” — an informal letter or other document that guides your family in understanding and executing your Estate Plan.

The Importance of Substantiating Your 2018 Charitable Gifts

Donating to charity is a key estate planning strategy for many people. But the IRS could disallow a deduction, even if it’s legitimate, if you fail to follow substantiation requirements...

Have You Had Your Annual Estate Plan Checkup?

An annual estate plan checkup is critical to the health of your estate plan. Here are a few key figures for 2018 and 2019 -- they may affect your plan, so let's talk about it!

Automatic Extension for Portability Election

Portability allows a surviving spouse to apply a deceased spouse’s unused estate tax exemption amount toward his or her own transfers during life or at death. To secure these benefits, however...

Life Changes? Update Your Estate Plan

Your estate plan shouldn’t be a static document — it needs to change as your life changes. Year-end is the perfect time to evaluate any changes in your life that may affect your estate plan.

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