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Tax basis planning worth a look if estate taxes aren’t a threat

For many people, income tax planning offers greater tax-saving opportunities than gift & estate tax planning. A record-high gift & estate tax exemption means fewer people are subject to those taxes.

IRAs for Charity

Charitable giving in the U.S. rose 2.7% last year, reaching an all-time record of $390.05 billion. That’s also a record in inflation-adjusted dollars, reports the Giving USA Foundation.

What to do Following Equifax Data Breach

UBT wants to make sure that you are aware of the Equifax data breach, and help inform you as to what you should do to determine if your personal information has been compromised.

Have you properly funded your revocable trust?

If your estate plan includes a revocable trust — also known as a “living” trust — it’s critical to ensure the trust is properly funded. Certain benefits aren't available if the trust isn't funded...

Powers of Attorney: Springing vs. Non-Springing

Estate planning typically focuses on what happens to your assets when you die, but it’s important plan for making critical financial and medical decisions if you’re unable to make those decisions.

Beware the GST Tax When Transferring Assets to Grandchildren

As you plan your estate, don’t overlook the generation-skipping transfer (GST) tax. Complexities surrounding its allocation can create several tax traps for the unwary.

Don't Overlook Tax Apportionment When Planning Your Estate

If you expect your estate to have a significant estate tax liability at your death, be sure to include a well-thought-out tax apportionment clause in your will or revocable trust.

When a 15-year Mortgage is the Right Way to Go

Why is a 30-year mortgage the standard? For many homebuyers, it's due to affordability. Monthly payments are lower on longer-term loans. But for some, a 15-year is a great fit. Let's take a look...

IRS simplifies procedure for obtaining extension to make portability election

An estate now has additional time to make a portability election without filing a ruling request. The IRS has also simplified the procedure.

Why Not to Live Within Your Means

We often hear the advice “Live within your means”, and we think of it as sound, prudent advice. However, there are certain situations which that advice becomes not only irrelevant, but problematic.

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