Tag Archives: Tax Planning

The Tax Deduction for People with Dementia

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April inevitably means tax time, so whether or not you need to file a return, this tends to be the season when you, and everyone else, think about deductions and techniques you might use to reduce the amount of tax … Continue reading

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To Gift, or Not to Gift

The topic of gifting assets is often an important discussion in the world of estate planning.  Generally, a main point of gifting is to remove assets from the estate of the donor to avoid potential estate taxes on the asset.  … Continue reading

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The Traditional IRA and Its Benefits

Last month, I wrote about how young adults should start saving for retirement as soon as possible – and how the Roth IRA is the perfect vehicle for many younger folks.  This month, I’ll delve into more details about the … Continue reading

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All Is Not the Same With Inherited IRAs- The US Supreme Court Denies Creditor Protection For Inherited IRAs

Recently the U.S. Supreme Court issued a ruling related to whether creditors could reach an inherited IRA.  Many individuals assumed that all IRAs were protected from creditors; however, the Supreme Court disagreed under federal bankruptcy law. The issue arose when … Continue reading

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Balancing the Needs of the Spouse and Children Using Disclaimers

The conclusion of my previous post alluded to an estate planning strategy that tries to balance the needs of the surviving spouse and children as trust beneficiaries by taking advantage of the surviving spouse’s disclaimer rights. This post will discuss … Continue reading

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Finish What You Start: Fund Your Living Trust

I have been writing about building flexibility into your trusts and your estate planning in general. Proper estate planning allows you to take care of your spouse, children, and other descendants well into the future, save estate taxes, and protect … Continue reading

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