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Monthly Archives: June 2017
IRS offers extensions to declare portability
Portability is an estate tax provision that allows married couples to combine their estate tax exemption. That exemption is currently close to $11 million between both spouses, but many executors…
Plans for long-term living assistance in North Carolina
According to a survey recently conducted by the Associated Press-NORC Center for Public Affairs Research, just 33 percent of older Americans have saved enough money to pay for long-term care…
Irrevocable life insurance trust administration
An irrevocable life insurance trust may have many estate planning benefits when drafted and administered properly. Trustees in North Carolina are urged to be aware of their fiduciary duties, which…
Funding lifetime care for special needs children
North Carolina parents may need to spend a great deal of money to ensure that their special needs child is properly taken care of during his or her lifetime. While…
Avoiding estate tax on life insurance
Many North Carolina residents know that real estate and investments are considered taxable parts of an estate. However, they may overlook the fact that insurance proceeds are taxable assets as…
Who, what, when: Have you begun business succession planning?
Throughout your career as a business owner, you undoubtedly enjoyed seeing your company thrive and grow into the success you had always hoped. You likely put much of your life…
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