Category: Estate Planning

Use Your Will to Dictate How to Pay Your Debts

The main purpose of a will is to direct where your assets will go after you die, but it can also be used to instruct your heirs how to pay your debts. While generally heirs cannot inherit debt, debt can reduce what they receive. Spelling out how debt should be paid can help your heirs. […]

read more

Income Tax Benefit of the IRA Charitable Rollover

Recent changes to income tax law may result in fewer individuals taking advantage of the traditional charitable deduction, but individuals can still receive a reduction in income tax by using their Individual Retirement Account (“IRA”) when completing charitable goals. The Change The Tax Cuts and Jobs Act was signed into law last December.  The new […]

read more

How Will the New Tax Law Affect You?

While most of the new tax law – the Tax Cuts and Jobs Act – has to do with reducing the corporate tax rate from 35 percent to 21 percent, some provisions relate to individual taxpayers. Before we get into the details, be aware that almost everything listed below sunsets after 2025, with the tax structure […]

read more

You Can Give Away More Tax Free in 2018, Contribution Limit to ABLE Accounts Will Increase Also

After staying the same for five years, the amount you can give away to any one individual in a particular year without reporting the gift will increase in 2018. The annual gift tax exclusion for 2018 is rising from $14,000 to $15,000. This means that any person who gives away $15,000 or less to any one individual […]

read more

Five Valuable Tips When Caring for a Parent at Home

More and more children are living with their parents when their parents begin to need supports for their care.  This situation can occur either with the parent moving in with the child or the child moving in with the parent.  This trend probably won’t reverse anytime soon. Children and their parents are finding that living […]

read more

What to Do with Cremated Remains

Can my ashes be spread anywhere? When we are completing a client’s Funeral Planning Declaration, this is a common question.  We also occasionally receive questions about scattering ashes from individuals who have cremated remains of family members in their possession.  Federal and Indiana laws dictate how and where cremated remains can be disposed.  However, laws […]

read more