Charlotte Estate Planning Blog
What are the benefits of a donor-advised charitable fund?
A donor-advised fund is a savings account that lets you set aside money or assets for charitable causes you specify now or in the future. Consumer Reports explains that these funds can help you meet your charitable giving goals while offering tax and other...
Estate planning considerations for a second marriage
If you have decided to get married again after a divorce, you may need to adjust your estate plan. Updating your will and other documents to include your new spouse and provide for children from both marriages can help prevent future conflicts. Review these estate...
Use these estate planning tips to reduce estate and income taxes
As you develop your estate plan, you may consider strategies to minimize estate and income taxes. US News and World Report suggests estate planning tips that may help you and your heirs realize tax savings. Irrevocable trusts may be useful tax planning tools You may...
How can you include your pets in your estate plan?
Maybe you have set up most of your estate plan in North Carolina, or you are just getting started. People at all stages of their estate planning eventually run into the question of how to provide for their pets after they have passed away. Including your pet in your...
Debt and your estate plan
Those creating or modifying an estate plan have a wide range of issues to take into consideration. Sometimes, people face a lot of uncertainty as a result of debt and there are different ways in which debt can affect an estate plan. For example, some people have to...
Charitable giving strategies in 2020
The wealth you earn over your life deserves to go where you want it. At certain levels of income and assets, the government seeks to tax large percentages that could go to people you love or charities you wish to donate to. As Forbes lists, recent legislation like the...
Do fiduciaries have to file estate tax returns in North Carolina?
When it comes to estate tax returns, the laws vary from state to state. In North Carolina, fiduciaries are required to file Form D-407A. It is crucial for fiduciaries to understand the requirements associated with the estate and taxes, since failure to do so can...
Make careful decisions when creating a power of attorney
Creating a power of attorney is a good idea not just for the elderly but also for the middle-aged as well as for young people with growing families to care for. However, as the principal, you need to appoint someone trustworthy who can act on your behalf. Consider...
Charitable planning options that also benefit you
Tax data from the past year demonstrates that a genuine desire to do good motivates a majority of charitable donations. In 2018, new tax laws went into effect that reduced the tax benefits of itemizing deductions such as charitable donations with a larger standard...
Reviewing North Carolina’s intestate succession guidelines
Most people in Charlotte likely view the process of estate planning with a good deal of trepidation. It places them in the unenviable position of disappointing some who may expect a certain interest in their estates. For this reason, many put off the process. Indeed,...
