2 results for tag: Estate Tax Exemption


Estate Planning for the Rest of Us

Whoever won that huge $997.6 million cash value Powerball jackpot last November needs some serious estate planning advice. Ditto for the winner of the $724.6 million cash value Mega Millions jackpot in January. Sadly, you did not win either. Nor did you inherit gazillions from your rich Uncle Fred, despite kissing up to him for all those years. Rats! Even so, you probably still need an estate plan. We will explain why. Don’t Fixate on the Big Federal Estate Tax Exemption You are probably among the vast majority who are not currently exposed to the federal estate tax, thanks to todayʼs ultra-generous $12.92 million exemption for ...

Is Now the Time to Transfer Your Home to Your Adult Child?

Let's say that your adult child wants to enter the world of homeownership and is looking to buy a home in today’s "Overheated" real estate market. Needless to say, anymore, it’s a struggle against the odds. Meanwhile, you’re ready to check out of your current home and explore your retirement possibilities. Maybe you want to downsize or move to a warmer climate or a lower-tax or no-tax state. Whatever the reason, you’re financially set and don’t really need the money from selling your home. So, consider the following options to help your home-starved adult child. Here, I will explain the Federal Income and Estate Tax Consequences....