Despite the various proposals to lower federal transfer tax (estate, gift and GST taxes) exemptions and increase the tax rates, none of them were enacted in 2021.
Without a valid will, a person’s estate passes to their surviving heirs under intestate succession (i.e., ‘succession without a will’).
Last year, the Social Security Administration announced that seniors would be getting their largest cost-of-living adjustment, or COLA, in decades. Fueled by rampant inflation, Social Security benefits are in line for a 5.9% boost this year.
Although you may be excited about the prospect of receiving unexpected money, there are certain financial moves experts say you should make to make sure you’re prepared for that inheritance.
According to the Exit Planning Institute of Ohio, recent studies show that over 60% of the current U.S. business market is owned by baby boomers (those born between 1946 and 1964), who are ready to exit or transition their business over the next 10 years.
In general, the best reason to establish a charitable trust, is if you would like to create a long-standing form of charitable giving.
If a loved one asks you to be the executor of their estate, think carefully before you take on this responsibility.
Scientists from Osaka City University are reporting successful preclinical tests of a novel nasal spray designed to prevent the neurodegeneration associated with dementia. The spray combines two inexpensive, pre-existing drugs and was found to improve cognitive function in several different mouse models of dementia.
A will allows you to distribute your worldly goods, select a guardian for minor children and name an executor to carry out your wishes.
Revocable Living Trusts have become a widely used estate planning document, providing a path to managing assets, avoiding probate and gaining privacy at the settlement of an estate.
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