Estate Planning for Your Digital Legacy

Estate planning for your digital legacy is a consideration many overlook but is becoming increasingly more important. Arranging what happens to your digital assets and information when you pass away has become an increasingly essential component of financial literacy — and comprehensive estate planning. According to Pew Research, the number of adults in the United States … Read more

An At-a-Glance Overview of Estate Planning

Estate planning, or legacy planning, entails preparing your affairs for the future, including death and other life events. While older adults might give more thought to estate planning, it is an essential tool at any age. Why It’s Important With estate planning, individuals and families can protect their interests after death or incapacity. What Is … Read more

3 Things to Know About Being an Executor

An executor is a person or entity you choose to carry out your last wishes outlined in your will. Your executor should be someone you trust is responsible enough to manage your estate after you pass away. Choosing an executor is a big decision when it comes to estate planning. So, what should I know … Read more

What Does the Term “Decedent” Mean?

“Decedent” is a legal term that refers to a person who has died with unsatisfied legal obligations. At the end of their life, a decedent has some legal duties that must be fulfilled through a representative. For example, decedents remain obligated to satisfy certain debts incurred during their life and file their last income tax … Read more

What Are the Benefits of Having a Testamentary Trust?

There are various benefits to creating a testamentary trust including wealth management, asset protection and for tax purposes. What Is a Testamentary Trust? A testamentary trust allows a testator to manage wealth by giving a trustee instructions for distributing their property after the trustee’s death. A testamentary trust is a part of the testator’s last will and … Read more

Step-Up in Basis and Why It Matters in Estate Planning

If you are estate planning or inheriting assets, it is important to understand what the step-up in basis is and how it may affect you. What Is the Step-Up In Basis? The step-up basis is a provision in federal tax law. It determines how assets are valued for calculating capital gains taxes when a person passes … Read more

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