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While estate planning is important for married couples, it is arguably even more necessary for couples that live together without getting married. Without an estate plan unmarried couples won’t be able to make end-of-life decisions or inherit from each other.
Vermont senator Bernie Sanders has introduced legislation that would require more estates to pay estate tax and that raises the amounts they would pay. Another proposed law would eliminate the step-up in basis that inherited assets currently enjoy.
ABLE accounts are a game-changer for families with special needs, but there has been confusion about how the accounts work. Here are answers to basic questions about what ABLE accounts can and can’t accomplish for the special needs family.
Creating and executing estate planning documents is just the first step. Once you have completed the documents, you need to know what to do with them.