2024 Annual Gift and Estate Tax Exemption Adjustments

With the arrival of the new year, revisions to the annual gift tax and estate tax exclusions will be going into effect, as recently announced by the Internal Revenue Service (IRS). Gift Tax Exemption for 2024 Every calendar year, you can gift up to a certain amount to...

Estate Planning Basics: What Is a Beneficiary to a Will?

People create wills to establish what happens to their money and assets when they pass away. In these estate planning documents, they can name beneficiaries – individuals who will receive money, other assets, or specific bequests like sentimental items upon the...

What to Know About Being a Health Care Proxy

When you assume the role of the health care proxy of a loved one, you make crucial medical decisions on their behalf. If your loved one becomes incapacitated and cannot communicate with health care providers, you are responsible for ensuring health care providers...

Are Wills Public Record?: Estate Planning Q&A

Wills contain important information about who receives money, possessions, and property upon a person’s death. Who can view this information, and is it a public record? Once your will goes through probate, it becomes a public record. The probate court must maintain...

Estate Planning for Your Digital Legacy

One aspect of your estate plan that you may not yet have taken into consideration is your digital legacy. Arranging what happens to your digital assets and information when you pass away has become an increasingly essential component of financial literacy — and...