Many of our long-term clients have worked with us to prepare a Will or Trust that suits their family's needs. However, even if you have completed your Estate Plan, you may need to revisit your plan over time. This Forbes article outlines some of the reasons you may wish to update your Estate Plan:
Tips to Avoid an Income Tax and Estate Planning Time Bomb
Fox61.com: Tips to Avoid an Income Tax and Estate Planning Time Bomb
This article discusses one tax consequence you may face if you attempt to do your own estate and long-term care planning. Unfortunately, far too many customers come to our office facing this very circumstance. The best way to get out of this problem is to enlist the help of an estate planning and long term care expert, so that you never get into it.
Congress Gives an Early Christmas Present: Charitable IRA Rollover
Congress gave us an early Christmas present by passing permanent Charitable IRA rollover legislation, the Protecting Americans from Tax Hikes (PATH) Act of 2015. In the past, Congress would pass such legislation, but it would only be effective for that year. Typically, Congress would pass the legislation just before the holidays, and it would be effective only through the end of the year. So, taxpayers would need to scramble to take advantage of the “gift.” This time, Congress made it applicable for 2015 and all future years.