Trusts are a powerful part of an estate plan, offering long-term control over assets and potential tax benefits. However, they also come with complex tax obligations that trustees must understand. Knowing when a trust is required to file a tax return—and how to minimize income taxes, especially f...

As we enter a new year, it's the perfect time to revisit your estate planning strategies to ensure they align with current laws and your long-term goals. With potential tax and legal changes on the horizon, staying informed and proactive will help you make the most of available opportunities and ...

Estate Planning is never static; it grows and changes along with you. When you're a business owner, it adds another level of complexity that you need to maintain to ensure everything with you and your business remains up to date. Depending on where you are in your life journey (and the life of your business), there are certain Estate Planning elements you should be aware of and questions you should ask yourself along the way. 

The House Ways and Means Committee recently proposed a draft tax bill that, if passed, could create some serious impacts on current estate planning strategies, and much quicker than expected. Below is a summary; to read the full details, click on the link at the end of this post. The Estate and ...

For those of us who didn’t extend our tax deadline, our 2018 taxes are done. Whew! By now, we have seen the impact the 2017 Tax Cuts and Jobs Act (TCJA) had on our 2018 tax liabilities. With the second quarter of 2019 already underway, it’s prime time to review your Estate Plan to address and resolve any tax liabilities you faced this last tax season and plan thoughtfully for the rest of 2019. Let’s review what you should be aware of and plan for in 2019.

The IRS has released their tax rate schedules, tax tables and cost-of-living adjustments for 2019. This is the first year under the new Tax Cuts and Jobs Act, an overhaul that changes individual income tax rates, eliminated personal exemptions and doubled the standard deduction. This includes tax...