One Common Estate Tax Error That Could Cost You
Takeaways Many families make the costly mistake of not filing an estate tax return when the first spouse dies, even when no taxes are due. If they fail to file IRS Form 706, the surviving spouse loses the valuable benefit of estate tax portability, which allows them...
Estate, Long-Term Care Plans Under the ‘Big Beautiful Bill’
Takeaways The One Big Beautiful Bill Act (OBBBA), signed into law on July 4, 2025, significantly impacts estate and financial planning. The federal estate, gift, and generation-skipping transfer tax exemptions will rise to $15 million per individual starting in 2026....
Can You Give Away Real Property and Avoid Probate Court?
Takeaways When passing property to heirs, using a deed can help avoid probate court. However, deeds have downsides, such as limited flexibility and lack of creditor protection for beneficiaries. If you plan to pass your home on to a family member through your will,...