Estate Planning to Minimize Federal Income Taxes

The traditional estate planning approach, aimed at reducing estate tax values, is less relevant for the vast majority of individuals today than it was in the past. The American Taxpayer Relief Act of 2012 (ATRA) provides relatively generous estate tax rates, limits and rules for estates. Specifically, the ATRA reduced the top marginal estate tax rate from 55 percent to 40 percent, increased the Continue Reading

Estate Planning: Check Your Beneficiary Designations

With today's relatively generous $5.34 million federal estate tax exemption, you may think estate planning is only a concern for the rich. Wrong! Regardless of your income or net worth, there's one estate planning move you should probably make right now: Check the beneficiary designations for your life insurance policies, bank accounts, brokerage firm accounts, retirement accounts, and other Continue Reading