Giving donations to a charitable cause is a noble act of kindness. And you are also likely well aware that as with donating to charity during your lifetime, dedicating a portion of your estate to a charitable cause can reduce the taxable value of your estate. But it doesn’t end here. You may be surprised to learn about the numerous benefits available when you incorporate charitable giving into your estate plan. Learn more here!
It's sad but true that many pets end up in shelters after their owner dies or becomes incapacitated. In fact, the Humane Society estimates that between 100,00 to 500,000 pets are placed in shelters each year for this reason, and many of these animals are ultimately euthanized. In light of this cold reality, if you're a pet owner, the best way to avoid this tragic event is to use estate planning to ensure your pets receive the best care when you're no longer able to care for them yourself.
Estate planning is an obvious concern for all parents, especially when having a child with special needs. It's important that you are aware of the unique considerations to go into planning and understand the necessary things you need to provide to your child - emotionally, physically, and financially, especially in the event of your eventual death or incapacity. But the first and most critical decision you need to make is to ensure your child's future well-being by appointing legal guardians.
Biden’s proposed Build Back Better plan would require approximately $7 trillion. Such an astounding amount of revenue most likely means a surge in taxes. Biden’s policy front is zeroed in on high-income taxpayers, and yes, that includes corporations and estates. You might want to plan ahead to minimize legal and financial repercussions arising from these proposed changes. From increased business taxes to lowered itemized deductions, here is an outline of Biden’s economic plans.
Nothing says you love your pets more than having a legal plan in place for their care in the event of your death or incapacity. Unfortunately, too many animals are abandoned each year because their owners take for granted their furry friend's good fortune. You don't have to worry, however. Because now we have an easy solution that offers your faithful companion with the best security - emotional and financial - in the event of your death or incapacity.
Superheroes never die, they just fade away. Chadwick Boseman’s Black Panther legacy will surely live on for years to come. However, with the court currently probing into his million-dollar estate, King T'Challa might be remembered differently by the public. Apparently, the actor died without completing estate arrangements causing his widow to petition to be named administrator. As sad as it sounds, Boseman is one of many celebrities who neglected to create a detailed and thorough estate plan.
With record-breaking 80 million votes, Joe Biden is well on his way to the White House. When he finally takes over in 2021, there will be key changes to watch out for especially in the tax landscape. Biden is set to inherit a battered economy so he is essentially focused on increasing revenue from taxes. As estate owners, now is the perfect time to update your existing estate plan in preparation for a massive political realignment next year. Here are the probable major economic shifts for 2021.
While estate planning is probably one of the last things your teenage kids are thinking about, given the dire threat coronavirus represents, when they turn 18, it should be their and your number-one priority. At 18, they become legal adults in the eyes of the law so you no longer have the authority to make decisions regarding their health care & finances if something happens to them. While you can't totally prevent your child from any unforeseen maladies, you can put a plan in place to assure th
2020 saw the passing of one of Marvel’s greatest superheroes, The Black Panther, King T’Challa. After four years of box office hits and hospital treatments, Chadwick Boseman has succumbed to colon cancer, ending a stellar career and leaving a million-dollar estate behind. However, it turns out that Boseman died without a will. Though this is a fairly common occurrence, such a situation has legal consequences that might take ages to resolve. Not to mention costly and even distressing.
The staggering events of 2020 have greatly affected each person’s overall mental and emotional health. Faced with sudden changes such as sickness, loss, or unemployment it is difficult to stay positive. No pun intended. However, this may be an opportunity to invest in your most important asset—yourself. It is a time of unearthing your skills and talents that may have been stored away all this time. As each person is unique you surely have something to offer that nobody else could. You could be t