Estate Planning: Your Guide to See-Through Trusts

notebook with trust and estate planning

You are working hard – building wealth, utilizing retirement accounts, and maybe already talking with financial advisors. You have a clear path to the goals you set for yourself long ago – even if they may have changed a bit as life ebbs and flows. So, what happens next? We hear a lot about planning for retirement, but estate planning is equally important. The latter requires foresight, but it also ensures that your loved ones are taken care of and that your hard work now can still benefit them later. To efficiently protect your well-cultivated retirement assets from creditors, and distribute them to your chosen beneficiaries, a See-Through Trust should be explored and created. See-Through Trusts are a key estate-planning tool, but there are a few things you should know before moving forward.

Read moreEstate Planning: Your Guide to See-Through Trusts

Understanding How the 99.5% Act Affects You

dollar bill zoomed in

On March 25, 2021, Senator Bernie Sanders and Senator Sheldon Whitehouse introduced the “For the 99.5 Percent Act” (referred to in this blog as the “99.5% Act”), a piece of legislation that would change federal estate and gift taxes. Here are the highlights you need to know:

  • Reduces the federal estate tax exemption from $11.7 million to $3.5 million
  • Reduces the gift tax exemption from $11.7 million to $1 million
  • Tax rates increase for gift, estate, and generation-skipping tax (GST) at a progressive rate

Read moreUnderstanding How the 99.5% Act Affects You

Post-Election Tax Strategies

man crunching numbers

Now that tax season is wrapping up, we can all take a deep breath. With the pandemic looming over all of us in 2020, change has become the only thing we can consistently count on these days.

Read morePost-Election Tax Strategies