By Matthew T. McClintock, J.D. Vice President, Education, WealthCounsel In his 2015 State of the Union Address, President Barack Obama proposed a major change to the tax treatment of inherited assets that could impact many estate plans. Under the president’s plan, the step-up basis rule for capital gains—pejoratively referred to as the “trust fund loophole”—would end. Currently, capital gains taxes owed on assets held at death essentially disappear. To read more please click here.... … [Read more...] about State of the Union Proposals Could Impact Your Estate Plan
Three Estate Planning Items Everyone Needs
By Matthew T. McClintock, J.D. Vice President, Education, WealthCounsel Many people mistakenly believe that estate planning is only necessary for the wealthy. In reality, a basic estate plan is essential for everyone, regardless of income or net worth, because we all want to minimize confusion, unnecessary costs, and stress for loved ones after a death. As discussed in a recent Yahoo! Finance article featuring WealthCounsel, estate planning can be a difficult topic for many families to address, … [Read more...] about Three Estate Planning Items Everyone Needs
What is Estate Planning
Believe it or not, you have an estate. In fact, nearly everyone does. Your estate is comprised of everything you own— your car, home, other real estate, checking and savings accounts, investments, life insurance, furniture, personal possessions. No matter how large or how modest, everyone has an estate and something in common—you can’t take it with you when you die. To read more about what estate planning is and how we can help click here... Article from estateplanning.com … [Read more...] about What is Estate Planning
IRS Announces 2015 Estate And Gift Tax Limits
"The Internal Revenue Service announced the 2015 estate and gift tax limits today, and the federal estate tax exemption rises to $5.43 million per person, and the annual gift exclusion amount stays at $14,000..." To read more click here... http://www.forbes.com/sites/ashleaebeling/2014/10/30/irs-announces-2015-estate-and-gift-tax-limits/ … [Read more...] about IRS Announces 2015 Estate And Gift Tax Limits
Congress Passes ABLE ACT
Major Victory for Persons with Disabilities and their Families. Read more... http://www.realeconomicimpact.org/News.aspx?id=460 … [Read more...] about Congress Passes ABLE ACT
