Blog Posts in February, 2021

Proposed Federal Gift, Estate, and Generation-Skipping Tax Exemptions

Running The "What-If" Scenarios In Step 1 of our Guide to Evaluating Your Tax Exposure, we invited you to know your situation inside and out—what your estate would look like with a 40% or even a 45% estate tax rate. Now, in Step 2, we highlight the importance of “running the ‘what-if’ scenarios” and using flexible strategies within your estate plan. This technique will help you maintain and retain ...

2021 WGA Special Report: Guide to Evaluating Your Tax Exposure

“If you fail to plan, you are planning to fail!” – Benjamin Franklin. If you implemented your tax law action plan this past fall, you likely took one of these initiatives: Left your estate plan “as is” after review and completed your year-end action checklist, Designed and implemented an estate tax freeze, or Transferred your remaining exemptions. The following is a comprehensive guide into the ...

Building a Comprehensive Estate Plan: Risk Management

Are you exposed? Risk management is an essential part of financial and estate planning. This strategy anticipates potential elements that can devastate your portfolio and your estate - and, more importantly, it covers the important matters that keep you up at night. The following list addresses key risks that should be managed: Property and casualty loss Healthcare concerns Financial decline or ...

Core Documents and Essential Components to a Comprehensive Plan

An estate plan is not complete without these 6 core documents. It's important to review your six essential estate planning documents every few years to make sure that they reflect your current needs and circumstances. In light of the tax law changes that are anticipated, it is time to take inventory and determine how the Biden Tax Plan will impact your existing plan. Please read more... Six Key ...