FAQs
Estate and gift tax
How can I determine what my business is worth for estate and gift tax purposes?
How can I minimize taxes on my estate?
How will estate taxes be paid if I leave no provision in my will?
I intend to make tuition payments directly to my grandchild’s college, and I know this will reduce my estate. But would it be better to contribute to a 529 plan instead?
I just made a gift. Do I have to file a gift tax return?
If I am the account owner when I die, will the value of my 529 account be included in my estate?
The death benefit from insurance on my life will be paid to an irrevocable life insurance trust (ILIT). What if those funds are needed to pay my estate taxes?
What is a family limited partnership, and will it help reduce estate taxes?
What is the applicable exclusion amount?
Will the value of my 529 account be included in my estate or my beneficiary’s estate?

Estate planning basics
How often do I need to review my estate plan?
Isn’t estate planning only for the rich?
What makes up my taxable estate?

Life insurance and estate planning
Are life insurance proceeds income taxable?
The death benefit from insurance on my life will be paid to an irrevocable life insurance trust (ILIT). What if those funds are needed to pay my estate taxes?
What is a life insurance trust and why should I consider establishing one?
When I die, is my beneficiary required to take a lump-sum payment of my life insurance death benefit?
Will my beneficiaries have to pay taxes on the proceeds of my life insurance policy?

Planning for incapacity
What is an advanced directive for health care, and will it help me avoid court involvement during incapacity?
What is the difference between a power of attorney and a durable power of attorney?
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Does property owned jointly avoid probate?
What is probate and why do I want to avoid it?

Trusts
Can an UGMA/UTMA account reduce my child’s financial aid for college?
Should I establish a trust for my child’s college education fund?
What is a Crummey power?
What is a life insurance trust and why should I consider establishing one?
What is a living trust?

Wills
Can I disinherit relatives I don’t like?
Can I transfer my business through my will?
Do I have to accept a bequest I don’t want?
Do I need an attorney to prepare my will?
How will estate taxes be paid if I leave no provision in my will?
I want my son to have my valuable collection of baseball cards when I die. How do I make sure he gets it?
What is the difference between a living will and a living trust?
What will happen if I die without a will?
Who should I name as guardian of my children in case my spouse and I should die at the same time?
Who should I name as trustee