Unraveling the Mystery: What Is a Beneficiary Defective Inheritance Trust

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Estate planning can be complex, especially when it comes to maximizing benefits and minimizing tax implications. Thankfully, you don’t need to know everything about trusts; that’s where I come in! One increasingly popular strategy is the Beneficiary Defective Inheritance Trust. I know that’s a mouthful, so we’ll just call it a “BDIT.” In this article, […]

What is a Prenuptial Agreement?

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A prenuptial agreement is a legal contract between you and your fiancée. This agreement allows you and your future spouse to deviate from the default state laws that will dictate your property rights, support, and finances once you are married. For many couples, these default state laws don’t really work for them. With or without […]

How to Leave Your Assets to YOUR People – Not Uncle Sam

So… this happens more often than you’d think. You make – or inherit – money. Then when you pass on, you assume (assuming is dangerous, by the way) that your estate is going to magically be divided exactly how you want it to be.  But – if you didn’t create an estate plan, there’s NO […]

Consider These Wealth Transfer Strategies in an Election Year

With a push by the Democratic party to return federal estate taxes to their historic norms, taxpayers need to act now before Congress passes legislation that could adversely impact their estates. Currently, the federal estate and gift tax exemption is set at $11.58 million per taxpayer. Assets included in a decedent’s estate that exceed the […]