The Internal Revenue Service has issued new guidance extending the time that executors have to elect portability.

Saying goodbye to a loved one is heartbreaking. Making final arrangements can be overwhelming, and knowing what you are allowed to do to fulfill your loved one’s wishes is important — but it can also be confusing.

Grantor Retained Annuity Trusts (GRATs) ­are a mechanism by which wealthier individuals and couples can transfer appreciating assets to their heirs and minimize gift or estate taxes.

Over the course of the pandemic, FEMA has stepped up to assist in covering funeral expenses for Americans who have died from COVID-19 and whose families may be struggling to pay to bury their lost loved ones.

Following the death of a family member, you may find yourself needing to sort through many possessions accumulated over the deceased’s lifetime. An estate sale is one way to distribute, quickly and efficiently, those items that you do not want or need.

There are many unknowns when planning an estate, but you can’t let the uncertainties get in the way of creating any kind of plan. Having an imperfect plan is usually better than having no plan at all. 

If you want to pass money to future generations without having it subject to gift and estate taxes, then a dynasty trust may be right for you.  

Unfortunately, not all families get along. If you are having problems with one of your children, you may not want them to benefit from your estate. There are several strategies for dealing with an estranged child in your estate plan.