Watch Out for the Capital Gains Tax

Watch Out for the Capital Gains Tax

It is assumed by most people that since the federal estate tax exemption was doubled in the tax bill passed late last year, many wealthy families would end up paying a lot less in taxes. However, it is not that simple. In fact, people who already created estate plans centered around the old estate tax […]

Are Your Heirs Ready?

Are Your Heirs Ready?

Everyone is aware that it is not a good idea to let minor children inherit a lot of wealth and leave them to manage it on their own. The money would likely be wasted, the children are at risk of exploitation, and the children might then lack any motivation to go to school and find […]

Probate and the Problem with Cryptocurrency

Probate and the Problem with Cryptocurrency

At the age of 21, Matthew Mellon, a member of the famous family of bankers, inherited $25 million through a trust created for his benefit. Illustrating the dangers of giving that much money to someone so young, Mellon developed costly habits, and passed away at the age of 54 on his way to rehab. If […]

Getting Organized

Getting Organized

Have you have ever needed to find a particular document but could not remember exactly where you put it? If the answer is yes, then you know how frustrating it can be to locate one piece out of a sea of documents. For example, if you need your birth certificate and the last time you […]

Reasons for Estate Planning

Reasons for Estate Planning

People who do not have estate plans often wonder why they should get one. People want to know what benefits they and their family can get by setting up an estate plan. In large part, this depends on individual circumstances. What assets a person has, how valuable those assets are, and who they should go […]

Generation Skipping Transfer Taxes

Generation Skipping Transfer Taxes

In part, the federal estate tax is designed to prevent wealth from accumulating within one family indefinitely. The idea is that as property passes down from succeeding generations in a family, the government will take a percentage of the property at each generation. People often avoid this tax with proper estate planning. One way to […]