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Estate Planning News

Senior Asian business couple discussing financial documents

The red flags are many when borrowing from your retirement plan

The COVID-19 pandemic has resulted in many people borrowing from their companies’ qualified retirement plans, and the CARES Act provides some temporary rule changes to this type of loan. However, given the risks and costs of borrowing from a retirement plan, you should generally view it as a last resort. From an estate planning angle, […]

Making lifetime gifts continues to be a smart estate planning strategy

Making lifetime gifts continues to be a smart estate planning strategy

The federal gift and estate tax exemption is now at a record high — $11.58 million for 2020. Consequently, most estates aren’t taxable. But that doesn’t mean making lifetime gifts isn’t without significant benefits — even if your estate isn’t taxable under the current rules. Let’s examine reasons why gifting remains an important part of […]

Buy-sell agreements: A smart business decision also makes estate planning sense

Buy-sell agreements: A smart business decision also makes estate planning sense

Do you own a business with one or more individuals? Undoubtedly, your interest in the business represents a substantial part of your net worth and is likely your “pride and joy.” So it’s normal if your fondest wish is for the business to continue long after you’re gone or for you to keep it running […]