Impact Giving: The Power of Collective Giving
As I reflect on the pandemic and the effect it has had on our communities, I can’t help but think about the incredible need our nonprofits have faced this past year and the importance of…
The CARES Act and How it May Affect Nonprofits
On March 27, the House unanimously passed and the President signed into law the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which is a $2 trillion stimulus law intended to provide immediate relief for…
Spousal Lifetime Access Trust & the Increased Estate Exemption
Thinking about taking advantage of the current federal estate exemption? A Spousal Lifetime Access Trust may play a critical role in your long-term estate planning. What is a Spousal Lifetime Access Trust (SLAT)? A Spousal…
An Annual Physical…For Your Estate Plan
Most people don’t hesitate to visit their doctor annually for a check-up. However, when it comes to updating their estate-planning documents, it’s like pulling teeth. They put off the appointment as long as possible. Does…
Gift now or at death? Not as simple as it used to be
Since many estates now fall under the 2013 federal exemption amount of $10.5 million, the need to remove assets from your estate by giving them as gifts may not be as critical as it once…
You Know About the Changes to Personal Income Tax, but Have You Considered New Tax Consequences for Trusts and Estates?
Most taxpayers are aware of the tax law changes, which include an increase in the top income tax rate and capital gains rate as well as a 3.8% Medicare surtax. While much of the focus…
Domicile vs. Residence – What’s the Difference?
Although the terms domicile and residence tend to be used interchangeably they may not mean the same thing when referring to state personal income taxation. As a general rule, “residence” is treated as the place…
Don’t Ignore Your Female Financial Intuition
By nature, women tend to see the big picture when making decisions - big and small. So why is it that we often drag our feet when it comes to planning for our financial future?…