Tax Cuts and Jobs Act of 2017

This major tax reform will benefit corporations and the mega-wealthy beginning in 2018. For many individuals, the new law will add complexity. Many of the new provisions expire after December 31, 2025, at which time tax rules revert back to 2017 law. We’ve compiled a list of the provisions that will likely affect our individual clients. Stay tuned for new tax strategies that will emerge from these rules.

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Why You Should Have a Will

A will allows you to specify what you want to happen to your assets after you die. Your need for a will is not based on your age. And you probably need one if you’re wealthy or not. If you don’t have a will, here’s what could happen upon your death: Your family will pay the […]

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Wealth Transfer Strategies: GRATs

Four years before the Facebook IPO, co-founders Mark Zuckerberg and Dustin Moskovitz each set up GRATs. Just before the IPO, those GRATs were estimated by Forbes to transfer a total of at least $185 million gift tax free to their non-charitable beneficiaries. GRATs, or grantor retained annuity trusts, are a wealth transfer strategy that freezes […]

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Designating a Beneficiary for Your 401(k)

If you are married, your spouse should generally be listed as your beneficiary on your 401(k), 403(b), or other retirement account, including IRAs. If you do not list your spouse as beneficiary, the entire balance in the account will go through your estate at your death, and will have to be distributed within just a […]

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