Man at his computer drinking coffee and doing business with his social media

FIVE QUESTIONS TO ASK IF YOUR BUSINESS INVOLVES SOCIAL MEDIA

Gabriel Katzner - August 10, 2022 - Estate Planning

For some people, social media is a way to share content, opinions, and ideas. For others, social media is their business. If social media makes up a large part of your business model, here are five questions to ask yourself to ensure your online business is fully protected. Are you treating your online business like […]

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Window to the outside and on the frame some plants and a picture with the words Estate Planning symbolizing plan for your future contemplating your home

HOW MARRIED COUPLES REDUCE FEDERAL ESTATES TAXES

Gabriel Katzner - August 1, 2022 - Estate Planning

HOW THE CLAYTON ELECTION AND DISCLAIMER OPTIONS HELP MARRIED COUPLES REDUCE FEDERAL ESTATES TAXES Married couples with larger estates face uncertainty about the federal estate tax exemption when the second spouse dies. Currently, the 2022 exemption amount for an individual is $12.06 million. However, current law reduces the exemption to $5 million (adjusted for inflation) […]

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clear street with surrounding homes clear skies and a beautiful neighborhood

QUALIFIED PERSONAL RESIDENCE TRUST

Gabriel Katzner - July 26, 2022 - Asset Protection

Why you might need This Trust in the Future? According to the Internal Revenue Service, an estate tax is a tax on your right to transfer your property upon your death. The combined estate and lifetime gift tax limit for 2022 is $12,060,000, a very generous amount when compared to 2004-2005, which was $1,500,000. This […]

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House with a For Sale sign in the front

REAL ESTATE DEEDS USED WHEN FUNDING YOUR TRUST

Gabriel Katzner - July 19, 2022 - Trust Administration

When using trusts in your estate plan, it is essential to fund the trust. Transferring your real estate from personal ownership to the Trust is essential to avoid the expensive and time-consuming probate process. To retitle your real estate in the trust’s name involves recording a deed with the local recording authority. Retitling your real […]

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Grand Parents, parents and grandchildren sitting on a grass field

FAFSA FORM CHANGE: GREAT NEWS FOR GRANDPARENTS

Gabriel Katzner - July 5, 2022 - Estate Planning

In the past, grandparents may have hesitated to leave their grandchildren a gift of a 529 college savings plan because it had the potential to reduce student aid eligibility. Good news! Recent changes to the Free Application for Federal Student Aid (FAFSA) forms mean that distributions from grandparent-owned 529 plans will not count towards a […]

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why a trust might terminate?

REASONS WHY A TRUST MIGHT TERMINATE

Gabriel Katzner - June 27, 2022 - Trust Administration

At some point a trust might terminate . While trusts can stretch across generations and keep money and property within a family, no trust has unlimited funds or will last an unlimited amount of time. A trust might terminate because: The trust has accomplished its intended purposes. It is no longer economically feasible to have […]

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Stack of million dollars

When Your Gifts Cost You Unexpected Penalties

Gabriel Katzner - June 21, 2022 - Asset Protection

The federal tax code is very specific about how much you are allowed to gift others in any given year or over a lifetime. If you go over that amount, you, the giver, get an unwanted gift from the Internal Revenue Service (IRS) in the form of a gift tax. However, not every gift is […]

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ESTATE PLANNING FOR THE STAY-AT-HOME PARENT

ESTATE PLANNING FOR THE STAY-AT-HOME PARENT

Gabriel Katzner - June 13, 2022 - Estate Planning

While it is common for parents to make plans to support their family if a working parent is injured, incapacitated, or dies, it is also important to make plans in case these same circumstances happen to the stay-at-home parent. Stay-at-home parents make valuable non-financial contributions that would be expensive to replace. Do you have plans […]

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- QTIP trust -

QTIP TRUST – WILL PROVIDE FOR MY SPOUSE?

Gabriel Katzner - June 1, 2022 - Asset Protection

A QTIP trust (qualified terminable interest property)  is an estate planning tool that can help married couples mitigate some of the uncertainty about how they will provide for each other while maximizing certain tax advantages. A QTIP trust is a special trust that can be used to transfer assets in a trust to a spouse […]

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FINANCIAL POWERS OF ATTORNEY

WHAT IS A SPRINGING FINANCIAL POWERS OF ATTORNEY?

Gabriel Katzner - May 24, 2022 - Estate Planning

Most people think of estate planning as preparing for the inevitable—when you are no longer around to take care of your loved ones and their financial needs. Having a well-thought-out estate plan is essential, but it should also consider how you will be taken care of if you can no longer manage your own financial […]

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