The Kiddie Tax can apply to the unearned income of children. Read on to learn if this tax applies to you or your children. Also, learn ways to avoid the Kiddie Tax. Kiddie Tax is Worse Than Ever … [Read more...]
The Risks of No Contest Clause
In a perfect world, our wills would serve only to better the lives of our loved ones after we’re gone. There would be no hard feelings, no disbelief, anger or threats after heirs learn the contents of a will. Too many times, though, families split because of their inheritance (or lack of). A no contest clause is one way of limiting those battles, but there are a lot of moving parts you need to understand before including this clause in your estate plan. The Basics A no-contest clause basically … [Read more...]
A Look at HEMS Standards in Estate Planning
HEMS is the acronym for “health, education, maintenance and support” distributions. It’s used most often in trusts. Those named as trustees are the ones who must discern what’s best in terms of property distribution for all things related to a beneficiary’s well-being, comfort, best interests, quality of life assurances and many others. Collectively, it becomes HEMS. HEMS Standards It’s perhaps the most common standard used in setting up a trust. It can help avoid transfer tax problems later … [Read more...]
