#estate-planning

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#inheritance-tax

The inheritance tax rules you need to know to avoid paying a bill

Pensions will be subject to inheritance tax starting in 2027, affecting estate planning for families.

Labour's tax on pensions 'will drag thousands more families into Inheritance tax net' - London Business News | Londonlovesbusiness.com

Changes to pension taxation will increase the number of families affected by inheritance tax (IHT).
More estates will face higher IHT bills due to increased pension inheritance values.
Elderly individuals are likely to utilize gifting strategies to mitigate tax impact.
New tax implications for AIM shares will alter retirement and estate planning.

Farmers fearful of inheritance tax rises can act now to protect their legacy for the next generation - London Business News | Londonlovesbusiness.com

Farmers should proactively address potential increased Inheritance Tax liabilities stemming from changes to Agricultural Property Relief, effective from April 2026.

The inheritance tax rules you need to know to avoid paying a bill

Pensions will be subject to inheritance tax starting in 2027, affecting estate planning for families.

Labour's tax on pensions 'will drag thousands more families into Inheritance tax net' - London Business News | Londonlovesbusiness.com

Changes to pension taxation will increase the number of families affected by inheritance tax (IHT).
More estates will face higher IHT bills due to increased pension inheritance values.
Elderly individuals are likely to utilize gifting strategies to mitigate tax impact.
New tax implications for AIM shares will alter retirement and estate planning.

Farmers fearful of inheritance tax rises can act now to protect their legacy for the next generation - London Business News | Londonlovesbusiness.com

Farmers should proactively address potential increased Inheritance Tax liabilities stemming from changes to Agricultural Property Relief, effective from April 2026.
moreinheritance-tax
#retirement-planning

Why Opening a Roth Account May Be a Good Move, No Matter Your Age

Older retirees can benefit from investing in Roth IRAs for tax-free growth and flexibility in managing retirement finances.

I have a large 401k balance and when I retire I want to take the entire balance and pay taxes on it - is this a smart idea?

Evaluate pros and cons of withdrawing retirement funds in a lump sum versus gradually rolling over to a Roth IRA.

We're 50 with $1 million in a IRA and want to convert it to a Roth - should we do it now or wait until 65?

Converting IRA funds to a Roth account early can optimize tax benefits and enhance long-term savings.

Why Opening a Roth Account May Be a Good Move, No Matter Your Age

Older retirees can benefit from investing in Roth IRAs for tax-free growth and flexibility in managing retirement finances.

I have a large 401k balance and when I retire I want to take the entire balance and pay taxes on it - is this a smart idea?

Evaluate pros and cons of withdrawing retirement funds in a lump sum versus gradually rolling over to a Roth IRA.

We're 50 with $1 million in a IRA and want to convert it to a Roth - should we do it now or wait until 65?

Converting IRA funds to a Roth account early can optimize tax benefits and enhance long-term savings.
moreretirement-planning
#wills-and-trusts

This Is How The Wealthy Plan For Death, But Anyone Can Do It

Everyone with assets should consult a lawyer to create a trust or will to avoid probate and ensure tax-efficient asset transfer.

Why millennials and Gen Z should have an estate plan

Estate planning benefits individuals of all ages and asset levels, especially young adults starting their financial journey.

This Is How The Wealthy Plan For Death, But Anyone Can Do It

Everyone with assets should consult a lawyer to create a trust or will to avoid probate and ensure tax-efficient asset transfer.

Why millennials and Gen Z should have an estate plan

Estate planning benefits individuals of all ages and asset levels, especially young adults starting their financial journey.
morewills-and-trusts
#financial-management

How to Secure Your Legacy with Effective Estate Planning Now | Entrepreneur

Procrastinating on estate planning can result in significant financial burdens for successful entrepreneurs and their families.

If You Find Yourself in Any of These Financial Scenarios, You Might Need a Family Trust

Setting up a family trust may be crucial for individuals with complicated finances, potential inheritor disputes, or those looking to manage assets effectively.

Power of Attorney: Your Guardian Angel in Case of Need - San Francisco Bay Times

A Power of Attorney (POA) is essential for ensuring your wishes are honored when you can no longer make decisions.

How to Secure Your Legacy with Effective Estate Planning Now | Entrepreneur

Procrastinating on estate planning can result in significant financial burdens for successful entrepreneurs and their families.

If You Find Yourself in Any of These Financial Scenarios, You Might Need a Family Trust

Setting up a family trust may be crucial for individuals with complicated finances, potential inheritor disputes, or those looking to manage assets effectively.

Power of Attorney: Your Guardian Angel in Case of Need - San Francisco Bay Times

A Power of Attorney (POA) is essential for ensuring your wishes are honored when you can no longer make decisions.
morefinancial-management
from Above the Law
1 week ago

How Can Attorneys Help LGTBQ+ Families With Post-Election Panic?

Proactive legal planning is crucial for the LGBTQ+ community amidst uncertain political shifts.
#inheritance

Our Kids Are Set to Become Really Rich When We Die. We Think It's Going to Do More Harm Than Good.

Gradual distribution of wealth through a trust can prevent children from being overwhelmed by sudden wealth.

The ultra wealthy use trusts to pass on wealth and motivate their kids-and so can you

Trusts are beneficial not just for the wealthy but for various income levels, assisting in effective estate planning and asset distribution.

How to Handle Property Inheritance: a Guide for Heirs

Inheriting property involves navigating legal complexities and responsibilities, making understanding essential for effective management.

These Celebrity Pets Are Technically Richer Than You (And Us)

Pet inheritances are becoming more common as people increasingly plan for their pets' care after death.

'I heard my uncle kept an inheritance that was left to me. What can I do?'

Grandchildren may need legal advice to confirm and claim their inheritance after their uncle allegedly used the funds.

Inheriting a home with your siblings? Here's all that can go wrong

Inheritance disputes can lead to familial tension; legal obligations may not be what family expects.

Our Kids Are Set to Become Really Rich When We Die. We Think It's Going to Do More Harm Than Good.

Gradual distribution of wealth through a trust can prevent children from being overwhelmed by sudden wealth.

The ultra wealthy use trusts to pass on wealth and motivate their kids-and so can you

Trusts are beneficial not just for the wealthy but for various income levels, assisting in effective estate planning and asset distribution.

How to Handle Property Inheritance: a Guide for Heirs

Inheriting property involves navigating legal complexities and responsibilities, making understanding essential for effective management.

These Celebrity Pets Are Technically Richer Than You (And Us)

Pet inheritances are becoming more common as people increasingly plan for their pets' care after death.

'I heard my uncle kept an inheritance that was left to me. What can I do?'

Grandchildren may need legal advice to confirm and claim their inheritance after their uncle allegedly used the funds.

Inheriting a home with your siblings? Here's all that can go wrong

Inheritance disputes can lead to familial tension; legal obligations may not be what family expects.
moreinheritance
#financial-advice

Suze Orman says this "insanely important and impactful bit of advice" can be done in just 30 minutes

Creating a will and other estate planning documents is essential to protect loved ones and avoid legal complexities.
Over half of Americans die without a will, leading to probate issues.

The 7 Most Common Signs You Need a Family Trust

Family trusts simplify asset management and inheritance, particularly for complex financial situations.

I'm 62 and worth millions - how can I give more to my kids without getting slammed on taxes?

Strategic gifting can be planned to minimize taxes related to death and gifts, as demonstrated in a recent financial advice scenario.

Suze Orman says this "insanely important and impactful bit of advice" can be done in just 30 minutes

Creating a will and other estate planning documents is essential to protect loved ones and avoid legal complexities.
Over half of Americans die without a will, leading to probate issues.

The 7 Most Common Signs You Need a Family Trust

Family trusts simplify asset management and inheritance, particularly for complex financial situations.

I'm 62 and worth millions - how can I give more to my kids without getting slammed on taxes?

Strategic gifting can be planned to minimize taxes related to death and gifts, as demonstrated in a recent financial advice scenario.
morefinancial-advice

Estranged wife of 'destitute' private-equity big gripes about $10G monthly allowance

John H. Foster's wife claims he drastically reduced her monthly allowance during divorce proceedings, raising issues of financial control and abuse in marriages.
#life-insurance

How rich Americans use life insurance to save on taxes and protect their kids' inheritance with this neat trick

Life insurance in a trust can protect assets from estate taxes, allowing wealthy individuals to pass on wealth without liquidating estates.
Using an irrevocable life insurance trust (ILIT) can save ultra-rich taxpayers millions in estate taxes.

The Tax Benefits of Life Insurance You Shouldn't Overlook

Life insurance provides not only financial support after death but also key tax benefits for policyholders during their lifetime.

Montreal Insurance: Protecting Your Business, Family, and Legacy

Building wealth is only half the battle; protecting it, especially with life insurance, is equally crucial.

How rich Americans use life insurance to save on taxes and protect their kids' inheritance with this neat trick

Life insurance in a trust can protect assets from estate taxes, allowing wealthy individuals to pass on wealth without liquidating estates.
Using an irrevocable life insurance trust (ILIT) can save ultra-rich taxpayers millions in estate taxes.

The Tax Benefits of Life Insurance You Shouldn't Overlook

Life insurance provides not only financial support after death but also key tax benefits for policyholders during their lifetime.

Montreal Insurance: Protecting Your Business, Family, and Legacy

Building wealth is only half the battle; protecting it, especially with life insurance, is equally crucial.
morelife-insurance
#wills

Wall St. Vet Names 'the Worst Money Decision'

A will is crucial for avoiding probate complications and ensuring timely asset distribution.
Trusts protect assets and are not exclusive to wealthy individuals; estate planning is important for everyone.

Jill On Money: Yes, everybody needs a will

Estate planning is essential for everyone and not just the wealthy, as it addresses meaningful possessions and end-of-life decisions.

Here are 3 Reasons You Have to Make a Will Before You Die

Only 32% of Americans have a will, revealing a significant gap in estate planning awareness and action.

Wall St. Vet Names 'the Worst Money Decision'

A will is crucial for avoiding probate complications and ensuring timely asset distribution.
Trusts protect assets and are not exclusive to wealthy individuals; estate planning is important for everyone.

Jill On Money: Yes, everybody needs a will

Estate planning is essential for everyone and not just the wealthy, as it addresses meaningful possessions and end-of-life decisions.

Here are 3 Reasons You Have to Make a Will Before You Die

Only 32% of Americans have a will, revealing a significant gap in estate planning awareness and action.
morewills
#retirement

Your personal finance questions: Is it true my mum can't sell her home, as probate wasn't granted after dad's death?

Jointly owned properties may require probate if the deceased's name remains on the title deed.
It is important to consult legal professionals regarding property sales and probate requirements.

If you're over 50 years old and have a family, this is what should absolutely already be checked off on your financial checklist

Having a robust financial plan by age 50 is essential for security and peace of mind.

Your personal finance questions: Is it true my mum can't sell her home, as probate wasn't granted after dad's death?

Jointly owned properties may require probate if the deceased's name remains on the title deed.
It is important to consult legal professionals regarding property sales and probate requirements.

If you're over 50 years old and have a family, this is what should absolutely already be checked off on your financial checklist

Having a robust financial plan by age 50 is essential for security and peace of mind.
moreretirement

'I was pressured into transferring our family farm to our son before my husband died - and our daughters got nothing. I feel guilty. What can I do?'

Navigating farm asset transfer post-death can involve legal complexities regarding consent and rights.

Choosing the Right Trustee: Why a Professional Might Be the Best Choice - San Francisco Bay Times

Choosing a competent trustee is critical for successful estate planning and asset management.

Richard Simmons' housekeeper asks to be co-trustee of his estate, claims his brother took advantage of her grieving

Teresa Reveles Muro seeks co-trustee status for Richard Simmons' estate, accusing his brother of coercion and manipulation.
from Brooklyn Eagle
1 month ago

City Council to offer free estate planning to NYC seniors; sign up by Oct. 1

The NYC Council provides free estate planning services to NYC residents aged 50+ with low income to protect their assets.
#tax-policy

Potential Tax Changes on the Horizon You Should Be Aware Of - San Francisco Bay Times

Upcoming elections may hinge on future U.S. tax policies, particularly capital gains tax and estate planning measures.

A Kamala Harris win could supercharge the $90 trillion Great Wealth Transfer

Ultra-wealthy parents should act quickly to transfer wealth due to changing tax policies if Kamala Harris is elected.
The $13.6 million estate and gift tax exemption is set to drop significantly after 2025.

Potential Tax Changes on the Horizon You Should Be Aware Of - San Francisco Bay Times

Upcoming elections may hinge on future U.S. tax policies, particularly capital gains tax and estate planning measures.

A Kamala Harris win could supercharge the $90 trillion Great Wealth Transfer

Ultra-wealthy parents should act quickly to transfer wealth due to changing tax policies if Kamala Harris is elected.
The $13.6 million estate and gift tax exemption is set to drop significantly after 2025.
moretax-policy

Can I Leave My Co-Op to All Three of My Children?

You can leave your co-op apartment to your children, but co-op board approval is necessary for transfer of ownership.

The Walmart heirs are worth $330 billion. Sam Walton's smart move in the 1950s is a big reason why.

The Walton family's immense wealth comes from wise estate planning and maintaining family control over Walmart since its early days.

Summer Goals: Making Time for What Matters, Including Your Estate Plan - San Francisco Bay Times

Summer is an ideal time for personal reflection and setting goals, including important estate planning tasks.

You could inherit a fortune in Croydon if you have one of these surnames

You could claim a fortune from 53 unclaimed estates in Croydon due to individuals dying without leaving a will.

Empowering LGBTQ+ Women Through Estate Planning - San Francisco Bay Times

Estate planning is vital for LGBTQ+ women's financial independence.
California's LGBTQ+ women may encounter unique challenges in estate planning.

Strategies to Improve Your Marketing for Estate Planning Services

Estate planning marketing is crucial for brand awareness and trust-building.
SEO is foundational for estate planning firms' marketing strategy.

Love and Legacy: Crafting an Estate Plan That Reflects Your Deepest Values - San Francisco Bay Times

Reflect on personal values and community dynamics when crafting an estate plan.
Understand evolving legal landscape, including marriage equality implications, for LGBT estate planning.

Jay Leno files for conservatorship for wife Mavis who has dementia

Comedian Jay Leno is seeking a conservatorship over his wife Mavis Leno's affairs due to her dementia.
Leno wants to ensure that Mavis has sufficient assets for her care if he dies before her.
The couple has been married for 43 years and Leno has always handled their finances.

A Cup of Kindness - San Francisco Bay Times

Writing your own obituary can provide peace of mind for your loved ones when you pass away.
Focus on creating a sense of community in your daily life.
#estate planning

Less-expensive transfer on death instruments become more popular in Chicago

Homeowners in Chicago are increasingly using transfer on death instruments to avoid the probate process and resolve tangled titles.
Transfer on death instruments are a cheaper and simpler estate planning tool that can preserve intergenerational wealth.

Daywatch: The Malort of holiday shows

The Sue Ling Gin Foundation has donated $21 million to Chicago CRED, a nonprofit organization focused on reducing gun violence in underserved neighborhoods.
The donation is the foundation's largest Chicago-based donation and is considered a transformational gift for Chicago CRED.

Less-expensive transfer on death instruments become more popular in Chicago

Homeowners in Chicago are increasingly using transfer on death instruments to avoid the probate process and resolve tangled titles.
Transfer on death instruments are a cheaper and simpler estate planning tool that can preserve intergenerational wealth.

Daywatch: The Malort of holiday shows

The Sue Ling Gin Foundation has donated $21 million to Chicago CRED, a nonprofit organization focused on reducing gun violence in underserved neighborhoods.
The donation is the foundation's largest Chicago-based donation and is considered a transformational gift for Chicago CRED.
moreestate planning

A financial guide to navigating your sandwich generation years

Financially protect yourself in the sandwich generation by having crucial conversations with aging parents about money, healthcare, and estate planning, and prioritizing your retirement over college savings.

Celtics issue statement on ownership group's plan for sale of the team

Celtics ownership group led by Wyc Grousbeck may sell team for estate planning.
Grousbeck expected to stay as team governor until 2028.
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