Why Would a Young Adult Need an Estate Plan?

Estate planning can seem like a subject that is only relevant to senior citizens. Obviously, the matter is going to be more pressing when you reach an advanced age. At the same time, if you think about it pragmatically, you will probably come to the conclusion that every responsible adult should have an estate plan… Continue Reading

Estate Tax Parameters Are Not Etched in Stone

The federal estate tax looms large for high net worth families. This death tax carries a top rate of 40 percent, so we are talking about a significant piece of your legacy. The good news is that most people are not exposed to the federal estate tax, because the exclusion or credit is relatively high…. Continue Reading

Can a Person With a Disability Create a Trust to Preserve Benefits?

Before we address the question that serves as the title of this post, we should provide some background information about Medicaid, Supplemental Security Income, and the plight of disabled individuals. Need-Based Government Benefits Medicaid is a jointly administered state/federal government health insurance program that can potentially be available to financially needy individuals. Because it is… Continue Reading

Transfer Appreciable Assets at a Gift Tax Discount

The federal estate tax was established back in 1916. What would you do if you knew that your estate was going to be subject to the estate tax? A logical person would consider lifetime gift giving, and this is exactly what wealthy people did after the estate tax was enacted. Tax minded legislators were not… Continue Reading

Do I Control Assets in a Wealth Preservation Trust?

Wealth preservation is a very important consideration for high net worth individuals. When you are in a position to pass wealth along to your loved ones after you are gone you may enjoy a certain peace of mind, but you have to be concerned about asset erosion. The federal estate tax is a looming threat… Continue Reading

Estate Tax Efficiency for Non-Citizen Spouses

There are many high net worth individuals in the greater Dallas area, and when you have been financially successful throughout your life, you have to be aware of potential estate tax exposure. The federal estate tax carries a whopping 40 percent maximum rate, so your wealth can be significantly eroded if you take no steps… Continue Reading