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The Qualified Personal Residence Trust

The Qualified Personal Residence Trust

People seek effective estate planning strategies to minimize potential tax burdens and protect their assets. The qualified personal residence trust (QPRT) is a valuable tool in this area. This specialized trust enables individuals to transfer their primary residence or vacation…

What Are the Benefits of Charitable Trusts?

What Are the Benefits of Charitable Trusts?

Would you like to preserve your assets for your children or other loved ones while minimizing tax consequences at the same time? If so, a charitable trust could be a good tool for you to use. Charitable trusts provide individuals…

SECURE 2.0 Act of 2023

SECURE 2.0 Act of 2023

Since 2006, the Pension Protection Act has been the only significant change in retirement legislation since the Setting Every Community Up for Retirement Enhancement Act (SECURE). The impact of the SECURE Act on some retirees, near-retirees, and their future beneficiaries…

Guardianship of Elderly Parents

Guardianship of Elderly Parents

A parent who is aging often loses the ability to think clearly and make meaningful decisions. This growing inability may occur due to Alzheimer’s disease, other forms of dementia, mental illness, stroke, brain injury, or other severe health or disability…

A Comparison of Elder Law and Estate Planning

A Comparison of Elder Law and Estate Planning

Despite some overlap, estate planning and elder law serve different purposes, yet both are equally vital to protect yourself and your family. The two terms tend to go hand in hand, but there are some differences. The biggest difference is…

Estate Planning and Tax Reform

Estate Planning and Tax Reform

You may need to update your estate plan annually to take into account changes in federal estate tax law, gifts, and GST exemptions. Since 2018, federal tax assessment on estates above $11.7 million, indexed for inflation every year, will default…

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