Estate Planning

Throughout 2024 we are conducting beneficiary reviews with all our families. This is essential work to maintain a fresh look at how our assets are both titled and setup for eventual disposition to our heirs. The Tax Cuts and Jobs Act of 2017 estate tax limits are set to expire on January 1, 2026. Barring any legislative changes the estate tax limit will revert to $7 million for individuals and $14 million for married couples. The reviews along with the potential changes have sparked good conversations about updating and/or reviewing everyone’s estate plan. Estate planning might seem like a daunting topic, but it doesn’t have to be. It’s essential to have a solid plan in place to protect your assets and ensure your wishes are honored. Although we might wish to sign it and forget it, estate planning isn’t just something you do once. It requires proactive management and regular [...]

Getting your affairs in order and outlining what you want done with your estate after you’re gone is one of the greatest gifts you can leave your loved ones. However, not preparing for the transfer of your assets can lead to confusion, potential family disputes, and outcomes that don’t align with your ultimate wishes. Creating a financial strategy that considers how an estate is structured is one of the most important services we provide as financial professionals. Over the years, we’ve helped guide many of our clients so they can make sound estate decisions and potentially avoid any missteps.1,2 1. Failing to create a comprehensive estate strategy One of the biggest financial mistakes is not developing a strategy for your estate. Some people never get around to it, while others think that estate concerns are only for the wealthy. Without a strategy, your assets may not be distributed [...]