Gifts During Lifetime Has Advantages

You probably give to others each year, such as for birthdays and Christmas gifts. Gifting can be done for other reasons, including during life or as bequests at death. The reasons for doing so could be to accomplish nontax or tax goals.

When Do I Need a Revocable Trust?

April 15, 2019
Bill O’Leary, Esq.
Asset Protection, Estate Planning, Life Insurance, Power of Attorney, Special Needs Planning

The Last Will and Testament plays an essential role in estate planning and without question everybody should have one.

Why Is a Revocable Trust So Valuable in Estate Planning?

Trusts are one of the most versatile items of the financial planning toolkit. However, they are not just for rich people. With the new higher estate tax exemptions, avoiding or reducing estate tax is not a concern for most of us.

This is the Year to Complete Your Estate Plan!

February 28, 2019
Bill O’Leary, Esq.
Asset Protection, Estate Planning, Power of Attorney

If You Haven’t Started Your Estate Plan, Now is The Time.

Who Pays What Taxes on an Inherited IRA?

I'm the executor of my mother's estate. She has an IRA where the beneficiary is her estate. When I withdraw this IRA into her estate account, how will this money be taxed?

How Do I Include Retirement Accounts in Estate Planning?

While most estate planning focuses on physical property, like your home, and liquid assets, such as investment accounts, retirement plans can actually make up a large portion of one’s estate. Due to the specific tax rules governing these assets at death, you must plan carefully to ensure these funds are integrated properly into your estate distribution plans and tax savings strategies.