If someone has named you as agent under a Durable Power of Attorney, you should understand your responsibilities and duties to the principal.
Although many advisors expected considerable and unfavorable revisions to estate and tax laws in 2021, last year’s legislative proposals resulted in little change. In fact, the 2022 federal gift and estate tax exclusion amount is now at an all-time high of $12.06 million. As this amount is scheduled to be reduced to $5 million (adjusted […]
When setting up an estate plan, one of the most important decisions that you need to make is who will manage your affairs following your death. This will be your Executor (named in your Will to handle your probate estate, as well as some other matters, such as tax filings) and your Successor Trustee (named […]
Tax Planning Opportunities Multiple proposals regarding estate tax exemptions and rates came and went during 2021, with little change to the law. This means there is still time to take advantage of the “perfect storm” of planning opportunities available in 2022. The IRS has announced the following changes to the estate and gift tax exclusions […]