Articles

In most states, spouses can purchase and own property separately from one another. However, in community property states, if one spouse purchases property, it is the property of both spouses. This has implications for both estate and tax planning. 

An intentionally defective grantor trust allows wealthy families to transfer assets from one generation to the next while achieving significant tax savings. IDGTs are especially useful if you have assets that will appreciate significantly over time.  

Parents usually want to leave their children equal shares of their estate, but equal isn’t always fair. If you plan to provide more (or less) for one child in your estate plan, preparation is important.

When creating an estate plan, the main decision is how your assets will be distributed after you pass away. Understanding "per stirpes" and "per capita" distribution is key to that decision. 

A Roth IRA does not have to be used as just a retirement plan; it can also be a way to transfer assets tax-free to the next generation.

Running a small business can keep you busy, but it should not keep you from creating an estate plan. Not having a plan in place can cause problems for your business and your family after you are gone.