In estate planning, you often come across the term “fair market value.” However, some assets are easier to value than others. The IRS defines fair market value as “the value at which the property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or to sell […]
Estates and Trusts
Embrace the Season of Change: Estate Planning Tips for Fall
As the vibrant colors of autumn paint the landscape, the fall season invites us to reflect on the changes in nature and consider the changes we can make in our own lives. Estate planning, often overlooked, is a vital aspect of ensuring a secure future for your loved ones. Just as leaves fall and transition, […]
Saving for a Child’s Future
Giving money to children or grandchildren is a planning strategy that benefits donors and beneficiaries. You can make annual gifts of up to $15,000 each to an unlimited number of recipients in 2021, free of gift and generation-skipping transfer tax, without using any of the lifetime gift exemption. But consider your options for holding gifted […]