From Timoney Knox, LLP The federal estate/gift tax exemption for 2020 increased by $180,000.00 to $11,580,000.00 per person, up from the 2019 federal estate/gift tax exemption of $11,400,000.00. Each individual's... read more →
When writing a will, you will need to make several important designations. One decision is the will executor, or the person to carry out your last wishes with regard to... read more →
The decision about how to designate beneficiaries for your company retirement plan, life insurance policies, and other assets might seem really simple. Chances are you would like those near and... read more →
Do you know what will happen to your digital property (i.e. online accounts, social media accounts) when you pass away? It is a good idea to create a plan which... read more →
Sometimes, seemingly minor oversights can have tremendous consequences. Take life insurance, for instance. Most of us tend to name our beneficiaries when we buy a policy…and then never give the... read more →
Don’ts Do not Designate a minor (child or otherwise) as the beneficiary of any life insurance policy, retirement plan, IRA, etc. By doing so, money will end up in a... read more →
