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Wealth Planning Blog

We provide you with tips and wisdom to help individuals understand and create roadmaps for the distribution and preservation of assets and why wealth planning is so crucial.
 

Wealth Planning Blog
October 31, 2017

Estate Tax Audit… 30 years later?

Since 2012, when Congress passed the American Taxpayer Relief Act, “portability” has been the heart of many estate plans for married couples. Portability allows a surviving spouse to use the deceased spouse’s unused estate tax exclusion (currently $5.49 million). A common estate planning goal of a married couple is to take full advantage of both spouses’ estate tax exclusions. Typically, this is done by funding a Family Trust (also sometimes called a Credit Shelter Trust or B Trust) at the death of the first-to-die with the exclusion amount and leaving the rest to one’s spouse (outright or in trust).

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Wealth Planning Blog
January 22, 2016

Achieving a Better Life Experience ABLE Accounts

What is an ABLE account? An ABLE account is a tax advantaged savings account for individuals with disabilities, which can be used for disability-related expenses on behalf of the designated beneficiary. Although contributions are not tax-deductible, these accounts have several benefits, including: Non-taxed income, One account per beneficiary, Investment strategy can be changed twice yearly, ABLE accounts do not affect SSI, Medicaid or other public benefits. Regulations on these accounts will be written by the Treasury Department in 2015.

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