What is “portability” and how is it elected? This article discusses these topics and explains some shortcuts that can be taken when filing a return only for portability. Read on to learn more. … [Read more...] about Basics of Estate Planning: Portability
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education,American Academy of Estate Planning Attorneys, Inc. This is another in a series of blogs on the basics of estate planning. Often, one of the most difficult choices for a client to make is the selection of people to make decisions for them. These fiduciaries may have great control over the client’s affairs, typically at times when the client would be most vulnerable or already gone. Let’s take a look at the … [Read more...] about Basics Of Estate Planning: Advising Clients On Selecting Fiduciaries
Roth and Traditional accounts each have their merits. This blog examines the differences between the two. Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education,American Academy of Estate Planning Attorneys, Inc. This is another in a series of blogs on the basics of estate planning. In this blog, we’ll look at the differences between a Roth and a traditional IRA (or 401k). We’ll also look at considerations in choosing between them. With a traditional IRA (or 401k), … [Read more...] about Basics Of Estate Planning: Choosing A Roth Or Traditional IRA (Or 401k)
Living trusts allow you to transfer property to a trust so the trust owns the property instead of you. You name a trustee to manage the property, which can usually be you or another trusted individual or organization, such as a bank or trust company. You also name beneficiaries, which may be you during your lifetime. The trust is managed for the benefit of the beneficiaries. Living trusts can be revocable or irrevocable. Revocable trusts can be changed and … [Read more...] about What Living Trusts Can Do for You?