November 24, 2017
charitable remainder trust

Is a Charitable Remainder Trust for You?

Did you know that you could sell a business or a highly appreciated asset and not pay a dime in taxes? I know what you are thinking. Yes, it does sound too good to be true. However, this is not one of those cases. It is absolutely possible with a charitable remainder trust. Check out this video to find out how! 
November 10, 2017
estate planning

Estate Planning 101: What You Need to Know

I have often said, “estate planning isn’t just for the retirees, it’s for you too!” We often think we will deal with what to do with our stuff much later in life, but the truth is, there is no time like the present for estate planning. Even if you aren’t retiring tomorrow, this crucial puzzle piece can mean the difference between worry and peace of mind for those that depend on you.
October 23, 2017

5 Financial Steps for Surviving the Death of a Spouse

The death of a spouse one can be devastating. Every closet you open, every TV show you watch, every holiday reminds you of those that are no longer there. Not long ago, I experienced the tragic losses of my father and uncle. Luckily, I was able to offer my mother and aunt the financial help they needed, along with the emotional support those grieving need. Because this loss is sadly a fact of life, I have dealt with it in my business as well. As a CERTIFIED FINANCIAL ADVISOR™ in Knoxville, TN many of my clients need the same help navigating such a devastating loss.
August 1, 2017
Estate and Gift Tax Limits

2017 Estate and Gift Tax Limits

We all want to leave a legacy. When it comes to money though, the IRS has some say so, meaning there are some tax ramifications to transferring your wealth. Here are the estate and gift tax limits you may need to know. The Changes For individuals, the estate and gift tax exemption jumped from $5.46 million in 2016 to $5.49 million this year. That means you can leave your heirs a hefty sum and not pay federal estate or gift tax. If the money is left by a couple, that amount is almost $11 million ($10.98 million). The annual gift exclusion is still $14,000 for 2017. Inflation played its role by initiating the increase by the IRS. Changes to the estate tax especially matter to those in the upper tax brackets. Whittling down your estate can help you avoid the 40% estate tax. The increase is especially helpful for those that used every dollar of their exemption. They now have an extra $80k to work with. Which means starting a funding a GRAT or starting up a trust could be viable options for sheltering the money. The federal gift tax and estate tax are married to one another, so the inflation […]