How often do you think about your digital legacy? When we think of estate planning, one of the first things that comes to mind is a list of the assets we own. But have you ever considered your digital assets as a part of this list? Are you aware of …
Read MoreReviewing Your Estate Plan: Purchasing a Large Asset
Purchasing a large asset: Perhaps you are a newlywed couple just returned from your honeymoon? Upon return, your one-bedroom apartment suddenly feels constricting. Or maybe you are a family of four and counting? You realize with another child on the way that you need more space to accommodate everyone’s needs. …
Read MoreMistakes in Asset Protection Planning
Our research has discovered these three mistakes in asset protection planning that are commonly made by clients. Asset Protection Planning Mistakes Placing assets in a revocable trust. A revocable trust is just that…revocable! The person who creates it can revoke it whenever they want. If the trust’s creator revokes the …
Read MoreEstate Planning for Non-Resident Aliens and Non-Citizen Spouses
Estate Planning for Non-Resident Aliens and Non-Citizen Spouses Non-Resident Aliens are not treated as advantageously as US citizens under the estate and gift tax rules by the IRS. For a nonresident non-citizen (“nonresident alien” or “NRA”) the applicable estate tax exemption is limited to $60,000, in comparison to $5,340,000 for …
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