Year-end ideas for gifting and estate plans
For financial planning, year end can be an opportune time to review strategies for gifting and estate plans.
For financial planning, year end can be an opportune time to review strategies for gifting and estate plans.
In 2020, more taxpayers may be able to take tax deductions on their charitable giving as a result of provisions in the CARES Act.
Lower asset values combined with historically low interest rates may favor certain wealth transfer strategies such as GRATs.
The pandemic highlights the importance of family communications and having legal documents in place.
Among the many provisions of the CARES Act are modifications of the rules involving retirement accounts to help both retirement savers and retirees.
The new 10-year rule resulted in several planning considerations for investors as they choose beneficiaries for estate plans.
The SECURE Act recast the rules for leaving retirement assets to heirs, creating challenges for beneficiaries and conflicts with certain trust strategies.
The SECURE Act brings significant changes to retirement accounts and introduces a new 10-year rule for inherited retirement assets.
The SECURE Act became law in December and introduced many changes to retirement accounts, including a new 10-year rule for IRAs signaling the repeal of the stretch IRA strategy.
Year-end is an opportune time to offer a beneficiary review to ensure that accounts are up-to-date.