Estate Planning For Couples: Should It Be A Solo Or A Duet?Authors of a new book on estate planning for blended families offer advice about when it's best for married couples to each have their own lawyer write wills and trusts.Deborah L. Jacobs...
Recent Supreme Court decisions have given same-sex married couples access to all the estate planning tools that heterosexual spouses have been using for years. Here is a brief overview of some of the elements and issues involved in effective estate planning for same-sex couples. ...
Many people assume that estate planning is for married couples, because couples include spouses who rely on each other, or because couples need to make contingency plans for the care of minor children. Singles, on the other hand, may not need a will to provide protection for another person....
“Portability” is a new concept in estate planning for married couples, which could potentially render traditional estate tax planning unnecessary. This means that a surviving spouse can inherit the estate tax exemption of the deceased spouse without using trust planning. Details are crucial in this...
late August of 2014, Trusts & Estates magazine published a peer reviewed article onOptimizing Social Security Benefits for Unmarried Couples, Quantifying the Financial advantages of Marriage. This article examines the benefits of being married with respect to IRAs, retirement plans and estate planning....
Trust & Estate Planning For married couples looking to use their lifetime gift exemptions and protect their assets, spousal lifetime access trusts (SLATs) are an attractive option. A SLAT is an irrevocable trust created by one spouse for the benefit of the other. The spouse who creates the ...
Should You Share Your Estate Planning Details With Loved Ones? Estate Tax Planning for Married Couples Living in Illinois Video #2: Peace of Mind Process The Advantages of a Revocable Living Trust as Part of Your Estate Plan Video #1: Will or Trust - The Estate Planning Continuum ...
Planning For Married Couples If you already have an estate plan created when you were Single, then you must bring your estate plan up-to-code to reflect your wedding vows. Learn More Planning For Minor Children Are you the parent of minor children? If yes, then they are your most valuable...
in many states. In addition, they do not entitle the parties to each other’s benefits under many Federal programs or the property rights of spouses. In particular, domestic partners (the parties to a civil union) are not treated as spouses by IRS, although same sex married couples would ...
Apply knowledge of portability elections and the deceased spousal unused exclusion (DSUE) to optimize estate tax planning for married couples Differentiate between estate tax returns and income tax returns for estates and trusts (Form 1041) to ensure proper reporting of post-death income ...