A Health Care Power of Attorney appoints someone to make decisions for you if you’re not able to do so for yourself. An Advance Directive expresses your wishes regarding end-of-life decisions. During the COVID-19 pandemic, it’s important to have them up-to-date. Read on to learn more. [Read More]
Planning Is Important
Planning is important. End-of-year tax planning is one part of that planning. This year you should also consider whether you’ve had any payroll tax withholdings deferred. If your employer deferred those withholdings, you’ll have more money withheld next year than usual. That means you’ll have less money for other things, like IRA contributions. [Read More]
Puerto Ricans are Unique, as Is Estate Planning for Them
Puerto Ricans hold a unique position under U.S. law. U.S. estate taxation treats those from Puerto Rico different from other U.S. citizens or citizens from other countries. Read on to learn more. [Read More]
Chadwick Boseman Demonstrates the Importance of Planning
Chadwick Boseman played many heroic American roles and the superhero role of the Black Panther. His death at age 43 demonstrated how it’s important to have at least a basic estate plan in place even if you’re young. Read on to learn more. [Read More]
Generational Wealth is Key to Leveling the Playing Field
Generational wealth is wealth earned by one generation and passed on to the next. Generational wealth is key to allowing the next generation to be free from the burden of having to live hand-to-mouth and allows them to pursue an education and build a career or business to build a better life for themselves. Read on to learn more. [Read More]
What Is a HIPAA Protection?
There are a number of different things to think about when you are planning your estate. Yes, you have to arrange for the passing of your legacy, and there are a number of ways to go about it. The best choice will depend upon the circumstances, and this is why you should discuss your options … [Read More]
Can I Work and Collect Social Security?
You should fully understand the Social Security parameters when you are looking ahead toward your retirement years, because you will have decisions to make. We were going to provide some important details in this post, but first, we will take a quick look at the way that you qualify. When you work and pay those … [Read More]
Estate Planning: Where Do You Begin?
The majority of people do not have estate plans in place, but a survey that was conducted by Caring.com found that most of the same folks know that estate planning is important. Why do they fail to take action? There are various reasons including the simple fact that many of them don’t know where to … [Read More]
Step-Up in Basis May Be Eliminated
The step-up in basis is related to the capital gains tax, and we will look at this tax and a potential change to it in this post. But before we do, we will provide a quick overview of the way taxes can impact postmortem asset transfers. State and Federal Income Taxes Since the tax man … [Read More]
Fend Off These Threats to Your Legacy
When you plan your estate, you should certainly be aware of the looming threats that can reduce the inheritances that you will be able to leave to your children. With this in mind, we will look at some of the sources of estate erosion in this post. Elder Financial Abuse As reprehensible as it is, … [Read More]
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