Previously, 529 plans could be used only to cover costs for college and other post-secondary educational expenses. The new tax bill changes that, allowing use of 529 savings plans to support children's K-12 education, and authorizes 529 accounts withdrawals for...
With Proven Results
With Proven Results
Year: 2017
If This is December, It’s Time to Consider 529 Qualified Tuition Plans
Got a kid or grandchild headed to college....sooner or later? December is a great time to set up and contribute to a 529 plan, to take advantage of this year's annual gift exclusion amount. 529 plans are an efficient and cost effective way for parents and other family...
How a life insurance trust can help preserve your wealth
Estate planning goes far beyond itemizing assets and listing beneficiaries to receive these assets. Especially for those who plan to leave a good deal of wealth and possessions when they pass, the process of estate planning should also take a close look at just what...
Changes to your family can mean changes to your estate plan
If you have already put together a will and estate planning documents, you’ve already gone a long way in terms of preparation for the future. However, do not let those documents go stale. Rather, make sure to review them at least every five years – or...
Trusts: The benefits of flexibility and control
When creating an estate plan, you will likely run into the option of setting up a trust or a will - or both. This leaves many wondering what the best option is. Should you transfer your assets to a trust? Or should you spell out your wishes in a will? Or does it make...
Save Money With New Montgomery County Property Tax Credits
Over 65 and living in your Montgomery County, Maryland home for 40 years or more? New property tax credits for qualifying Montgomery County, MD homeowners could save you BUSHELS of MONEY!! Read on - *NEW* Property Tax Credit for Elderly Individuals and for...
The gift of your home: How a QPRT can reduce your taxes
Your home is a considerable asset. Yes. You have money in the bank, investments made and valuable possessions, but your home is also a rather significant asset to take into account when deciding how you want to leave your assets to your loved ones. At the end of the...
Prenuptials and estate plans for marriage after 50
Finding love in life is a great feeling, no matter your age. However, just like there are considerations for a 25-year-old to make prior to marriage, there are also important decisions someone 50 or older also needs to consider before walking down the aisle. In this...
Strategies To Save Your Loved Ones Money After You Pass
You have worked hard for everything you have and you no doubt want to leave your children with your assets when you pass. While this sounds simple enough, the truth is that estate tax laws are downright confusing, and one small mistake or oversight can have serious...
Spread The Word : Big Jumps In Estate Tax Exemption Amounts Effective In 2017
D.C.'s New Estate Tax Exemption Amount The District of Columbia's Office of Tax and Revenue recently announced that the D.C. estate tax exemption amount - - that is the portion of an estate NOT subject to tax - - will DOUBLE, from $1 million to $2 million, applicable...