A Family Wealth Trust is the main component of a Legacy Wealth Plan and covers important issues other than avoiding probate. … [Read more...] about What is a Family Wealth Trust?
What happens if I die without an estate plan?
If you don’t create an estate plan, the state will step in with one of its own—through a process called intestate probate. But that plan is … [Read more...] about What happens if I die without an estate plan?
What is the difference between “traditional” estate planning and Legacy Wealth Planning?
Traditional estate planning is focused on financial assets and is concerned with avoiding probate and estate taxes. On the other hand, … [Read more...] about What is the difference between “traditional” estate planning and Legacy Wealth Planning?
Why do I need an estate plan?
• Married couples: Federal rules let you transfer unlimited assets to a legal spouse—no gift tax now and no estate tax later.• Unmarried … [Read more...] about Why do I need an estate plan?
What is “traditional” estate planning?
Traditional estate planning (Wills and Trusts) focuses on the accumulation, the preservation, and the distribution of only your financial … [Read more...] about What is “traditional” estate planning?
What is Legacy Wealth Planning?
Legacy Wealth Planning is the creation of a definitive plan for managing your total wealth while you’re alive, distributing your estate how … [Read more...] about What is Legacy Wealth Planning?
Must an estate tax return be filed if portability will be utilized?
Yes. Portability must be elected on a timely-filed federal estate tax return. This is the case even though a federal estate tax return would … [Read more...] about Must an estate tax return be filed if portability will be utilized?
What is portability?
Portability is where the surviving spouse can use the amount of federal estate tax exclusion that their deceased spouse left unused at their … [Read more...] about What is portability?
What is a state estate or inheritance tax?
A state estate tax is a tax levied by a state government upon the estate of a deceased person. It is levied in much the same way as the … [Read more...] about What is a state estate or inheritance tax?
