5 Ways to Protect Your Estate Plan
The inheritance you leave could be eaten away by taxes or given to the wrong person. Here are five tips to avoid that.
Ethan Huizenga
November 3, 2020
Estate Planning in the Pandemic
The coronavirus crisis has cascaded through pretty much all areas of the financial world, leaving very few businesses unscathed. Uncertainty has always been the enemy of financial stability, and unfortunately, foundational questions about how long the recovery will take and what the future will look like post-crisis do not have clear answers. Understandably, this is a cause of worry and concern for many.
Ethan Huizenga
August 6, 2020
Should I Create a Family LLC?
Somewhere between a corporation and a partnership lies the limited liability company (LLC). This hybrid legal entity is beneficial not just for small-business owners but is also a powerful tool for estate planning.
Ethan Huizenga
July 30, 2020
What Must Be Done when a Loved One Dies?
It can be hard to move through your daily life after someone you love dies. It may be even harder to embark on the complex tasks required to put their financial affairs in order. However, you can’t afford to put that off.
Ethan Huizenga
July 21, 2020
Does the Trust Beneficiary Have to Pay a Tax?
Beneficiaries of a trust typically pay taxes on the distributions they receive from the trust’s income, rather than the trust itself paying the tax. However, these beneficiaries are not subject to taxes on distributions from the trust’s principal.
Ethan Huizenga
July 15, 2020
Tapping an Inherited IRA?
When a loved one dies, any leftover IRA funds they had, goes to whomever they labeled as beneficiaries. If you’re a beneficiary, you have to decide how you’re going to use it—a decision that’s a little more complicated this year than it normally is.
Ethan Huizenga
June 22, 2020
The Family Trust: What You Must Know
A trust can be used to manage estate taxes, shelter assets from creditors and pass on wealth to future generations. A family trust is a specific type of trust that families can use to create a financial legacy for years to come. There are several benefits to creating one, although not every family necessarily needs one. If you’re curious about where this type of trust might fit into your family’s estate plan, here’s what you need to know.
Ethan Huizenga
June 11, 2020
Five Common Estate Planning Mistakes
When is the last time you updated your will? Could your beneficiaries have changed? If you have a trust, did you actually fund it? Is your plan ready for the new SECURE Act? Here are five mistakes you don’t want to make.
Ethan Huizenga
May 12, 2020
Handing Kids Your House Keys Is Bad Estate Planning
Adding an adult child to your house deed, or giving them the home outright, might seem like a smart thing to do. It usually isn’t.
Ethan Huizenga
May 8, 2020
COVID-19 UPDATE: New Tax Deadline
The IRS has pushed back Tax Day from April 15 to July 15, 2020. Here are the new deadlines, and why you may want to file now.
Ethan Huizenga
April 21, 2020
