Studies suggest that millennials will inherit an astounding $68 trillion in the coming years, making them the wealthiest generation in history. While this may be great news for some, it also comes with significant tax implications.
When you purchase and own a home, your name is on the title to the property, indicating ownership. However, you can transfer ownership of your residence to another person or entity in the form of a real estate trust.
It is very important for unmarried couples to execute estate planning documents to make their wishes clear concerning the rights and responsibilities of their significant other.
It is commonly understood that upon death, our property will pass to someone else. However, the details of exactly how property passes often seem a bit more mysterious.
Different people have different needs, and for most people, starting with basic legal documents, such as a will and power of attorney, are a great place to start and can make a big difference.
Unfortunately, during the grieving process surviving spouses also need to navigate the complex financial issues that arise after the death of their partner.
Part of the agency’s latest annual ‘Dirty Dozen’ scams, these potentially ‘abusive arrangements’ involve charitable remainder annuity trusts and monetized installment sales.
