This sunsetting creates a big imperative for business owners to take a closer look at tax planning, and not treat a grim fiscal inevitability like another unfortunate surprise.
There is a popular misperception among many seniors that in order to protect their assets from creditors, including the cost of nursing home care, they should consider gifting their assets to their children.
Generative artificial intelligence systems are already making it easier for scammers to con elderly Americans out of their money, and several senators are asking the Biden administration to step in and protect people from this quickly emerging threat.
Broaching the subject of estate planning can be difficult, as emotions often run high while discussing end-of-life care and other similar topics. However, having a plan in place can streamline the estate transfer process upon the passing of your loved ones, bringing peace of mind to the whole family.
Unfortunately, during the grieving process surviving spouses also need to navigate the complex financial issues that arise after the death of their partner.
The primary benefits of revocable trusts only are available if a revocable trust is FUNDED during life. Unfortunately, experienced estate planning attorneys often have clients who delay the funding of their revocable trusts until it is too late and miss many of the benefits that these trusts provide.
