Trusts

It may seem counterintuitive, but paying appreciably more taxes in 2020 could save families a lot of money down the road.

Depending on the economy and the election, they could be on the chopping block as soon as 2021.

The Internal Revenue Service is giving taxpayers a break if the checks they mailed in to pay their taxes still haven’t been opened up yet and are sitting in the trailers the IRS set up during the pandemic.

Both pieces of legislation have caused sweeping changes to retirement planning and wealth management.

A revocable living trust is one way to reduce their estate taxes, however the law requires clients to sign the document in the presence of the notary.

The Secure Act eliminated a popular retirement planning feature. Here are strategies to help clients mitigate the tax hit.

Convenience accounts, power of attorney, trusts: The benefits and drawbacks are legion. Here's a guide.

Filing at the wrong age and failing to take advantage of programs like spousal and survivor benefits are just a few common mistakes seniors make.

They are advised to consider making amendments if they want to take advantage of temporary tax provisions that Congress extended retroactively in December.

As the wealthy often sidestep estate taxes, one law professor offers a code change that forces heirs to pay income and payroll taxes on all inheritance.

The Secure Act was designed to expand retirement savers’ options but it has subsequently all-but-eliminated the stretch IRA for beneficiaries. It's on advisors to make clients aware of the major change.

"Keep records and watch the statute of limitations. The usual IRS statute of limitations is three years after you file your tax return," an expert writes.

When his dad passed away, my client would have to probate 60 different stocks and a New York property, plus handle charitable contributions. At the same time, 13 grandchildren would breathe down his neck for their inherited shares.

Without the marital deduction, a certain category of married clients will have challenges inheriting property outright.

CEO James Poer seeks a different approach from rivals under the IBD’s new ownership.

While an asset protection trust can cover nursing home care expenses in retirement, growth of these investments can trigger a tax bill.

In some ways, their investments are a microcosm of trends sweeping the wider market.

Like many trusts, the fund was designed to expire in 25 years, however tying it to the lives of a group of children born in the early 90s extended its own life.

Most retirement tips should be taken with a grain of salt, as not all advice can help boost prospects.

Contribution limits in a Roth IRA could shrink for couples after marriage.