By Cindy McLagan, EA Estate planning is the process of determining what will happen to your funds, assets, and general finances after your death. While it may not be the most pleasant thing to think about, estate planning helps ensure your wishes are carried out in the future. A wise first step is to assemble […]
Which Type of Trust is Best for You?
By Cindy McLagan, EA If you’re looking for a way to minimize gift and estate taxes, creating a trust could be a solution. Many types of trusts exist, and each has a specific purpose. The type you choose—as well as how it’s created—will depend on what you’re trying to accomplish. Although establishing a trust requires […]
Benefits of Using a Corporate Trustee
By Brenda K. Lowe, CPA, PFS Naming a trustee to manage your estate can be a difficult decision. Many choose a family member, such as an adult child, a friend, or even a neighbor to assume the role. But naming a loved one as a trustee can cause complications over time. Not only is the […]
Tax Forms to be Considered When a Loved One Passes
By Brenda K. Lowe, CPA, PFS I am frequently asked the question “Which tax forms am I required to file following the death of a loved one?” While one might expect the answer to be succinct, it rarely is—mostly because it will depend largely on your personal situation. Generally speaking, you will almost certainly need […]
Considering Life Insurance? Ask Yourself These Questions First
By Brenda K. Lowe, CPA, PFS Consideration of life insurance is an integral part of the estate and financial planning process. You may wish to have a policy to pay estate taxes, address estate liquidity needs, provide for a business buy-sell agreement, or provide funds for your heirs. But before you purchase a policy—or even […]