Creating a trust can help assure that assets are distributed more quickly, bills are paid promptly and continuously and personal information about property and other assets remains private. The New York Times recently published an article, “Life After Your Death? Here’s Why You Should Have a Trust.” The article explained that trusts have often been thought of a way for wealthy people...
Continue ReadingChances are that your biggest expense in retirement will be taxes. KSL.com discussed this issue in its recent article, “5 retirement tax traps that could needlessly cost you thousands of dollars!” According to the article, you shouldn’t ignore the one thing that could have the greatest impact on your savings and investments: taxes. Here are some retirement tax traps that could needlessly...
Continue ReadingThe changes to the federal estate tax law or “death taxes” went into effect on January 1. MarketWatch’srecent article, “Watch out for the gift tax trap in the new tax law,” reports the new law significantly increases the amount allowed to calculate taxes on estates, where no federal tax would be applied. A single person could now die owning up to $11.2...
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