Posts Tagged ‘estateplanning’
Six Tips for Organizing Your Records
By Elaine Floyd, CFP® | Horsesmouth You may have your records organized in a way that works for you, but imagine what your loved ones would face if you weren’t around to show them where everything is. This is why an important part of legacy planning is organizing your files so the people closest to…
Read MoreA Higher Estate Exemption Does Not Replace a Family Wealth Plan
For 2026, the federal basic exclusion amount for estate and gift taxes is $15,000,000 per person, as set by legislation signed into law on July 4, 2025.1 For a married couple, careful planning, including a timely portability election on the first spouse’s estate tax return where appropriate, can effectively shelter up to $30 million from…
Read MoreFactors to Consider When Updating Insurance Coverage
By Amy E. Buttell and Elaine Floyd, CFP® | Horsesmouth With government health care policies always uncertain and the memory of super storms still fresh, now is a good time to review insurance policies coverage, insurance needs, and emergency plans. Insurance coverage tends to be the stepchild of family financial planning. All too…
Read MoreThe 10 Basic Questions of Estate Planning
By Amy E. Buttell | Horsesmouth It’s not easy to contemplate your own mortality, but a good estate plan can provide for your heirs, protect your assets, and promote family harmony once you’re gone. Estate planning is complex and because it involves facing your own mortality, it can be difficult subject to address.…
Read More5 Things to Do Now to Make Your Estate Simpler for Your Heirs: It’s easy to put off doing many of these things. But get them done, and your heirs will be thankful you did.
By Cheryl Winokur Munk No one likes to think about their own demise, but planning can make life after your death significantly easier for heirs. Here are five ways to help heirs avoid extra time, money, stress and acrimony after you pass: Keep documents updated Having a will or living trust is essential—but it isn’t…
Read MoreWelcoming a New Family Member This Year?: What every new parent and grandparent should know about wealth planning
Having a child or grandchild is a joyful milestone, but it also marks a new era of responsibility – especially when it comes to your family’s long-term financial wellbeing. If you’re a new parent or grandparent, now is the time to confront the “what if” questions that may have seemed remote before. What would happen…
Read More5 Things to Do Now to Make Your Estate Simpler for Your Heirs
By Cheryl Winokur Munk No one likes to think about their own demise, but planning can make life after your death significantly easier for heirs. Here are five ways to help heirs avoid extra time, money, stress and acrimony after you pass: Keep documents updated Having a will or living trust is essential—but it isn’t…
Read MoreThinking About Naming a Trust as a Beneficiary? Know the nuances to ensure that your plan aligns with your financial goals
A critical part of estate planning is deciding how to distribute your retirement assets, such as IRAs or 401(k)s. One option is to name a trust as the beneficiary of these accounts, which can offer benefits in terms of control and protection. However, this decision also comes with potential tax implications and administrative complexities. It’s…
Read MoreIndividual vs. Joint Trust: Which Do You Need? Make sure your estate plan reflects your wishes and provides protection
Creating an estate plan is a vital step in securing your financial legacy, and if you’re doing it for the first time with a spouse or partner, you’ll quickly face an important decision: Should you set up a Joint Revocable Trust or create separate Individual Revocable Trusts? Understanding the difference between the two can be…
Read MoreFamous Estate Planning Blunders
By Elaine Floyd, CFP ® Celebrities have enough money to hire the best estate planning lawyers. You would think celebrities, of all people, should have ironclad estate plans that keep their affairs private, leave money and possessions to the people they love and the charities they care about, and take advantage of legal ways to avoid…
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