Many people would prefer that their estates avoid the probate process.  While the probate process is not overly costly in most states, it is generally considered a hassle to those who have experienced it.  The following is a discussion on several alternatives for avoiding probate. » Continue reading “Alternatives for Avoiding Probate”

Well, Congress finally enacted the tax reform bill that many have been anticipating for some time. In general, the new law extends the Bush-era tax cuts for two years and provides taxpayers with some certainty during this period.  While this comprehensive piece of legislation covers many aspects within the tax code, here is a summary of some of the major points.

» Continue reading “Tax Relief and Job Creation Act of 2010″

At the end of the year, many people begin thinking about making year-end gifts to their favorite charities.  While making cash donations to the charity of your choice is certainly a convenient approach, here are other gifting strategies to consider:

» Continue reading “Strategic Methods for Charitable Gifting”

As the year winds down, it is always a good idea to review your tax situation to determine if there are ways to reduce your tax liability.  However, the uncertainty surrounding many tax changes is proving to make 2010 a very difficult year for tax planning. Here are several items that may warrant consideration prior to the end of the year:

» Continue reading “2010 Tax Planning – Uncertainty Abounds”

Most parents take certain steps to protect their children in the event of their premature death.  Drafting a will or other estate documents, designating a guardian, obtaining life insurance and naming appropriate beneficiary designations on IRAs and 401k plans are all important components of an effective estate plan that serve the purpose of protecting your children.  However, most parents should take additional measures to provide guidance on how their financial assets are managed for their children’s benefit.

» Continue reading “Do you need a Trust for your children?”

An effective estate plan can ensure that assets pass directly to the intended heirs according to the deceased wishes and with the least amount of cost.  Without a properly executed estate plan, heirs can be left with a big mess and lots of hassle.  Here are a number of estate planning mistakes that, if avoided, can ensure an efficient distribution of assets at death:

» Continue reading “Common Estate Planning Mistakes”