ABLE accounts are a game-changer for families with special needs, but there has been confusion about how the accounts work. Here are answers to basic questions about what ABLE accounts can and can’t accomplish for the special needs family.
While estate planning is important for married couples, it is arguably even more necessary for couples that live together without getting married.
Although your life insurance policy may pass to your heirs income tax-free, it can affect your estate’s tax liability.
Before you commit to adding a trust to your estate plan, make sure you understand the differences between revocable (also called “living”) and irrevocable trusts because each offers advantages and disadvantages, depending on their purpose.
No parents want their children to fight among themselves after they are gone. Sadly, conflicts often arise, especially when a parent has gifted or loaned money to one child and not others.
As baby boomers age, more and more millennials are becoming caregivers. Many are taking on this role while just getting started in their own lives, leading to difficult decisions about priorities. Proper planning can help them navigate this terrain.
Most low- and middle-income Americans qualify for free online tax preparation software, but do not take advantage of it. And anyone over age 60 can use the IRS’s Tax Counseling for the Elderly program.
As 2019 drew to a close, Congress passed a spending bill that includes significant changes to retirement savings accounts. For families with special needs members, these changes will have an impact on estate planning.
The same end-of-year bill that made major changes to retirement savings accounts also includes significant tax changes for people with assets in a special needs trust for a minor.
The U.S. Supreme Court will not hear the appeal of a ruling that Domino’s Pizza’s website is a “place of public accommodation” and that it must make its website and app accessible to a blind person.