Estate Planning

Happy mother with adult children taking cell phone picture outdoors

Tax-Free Techniques for Leaving Living Inheritances to Your Children

Many of us will live into our 80s and 90s as a result of rising life expectancies.

Your children will most likely inherit money in their 60s or 70s.

Consider tax-advantaged strategies for passing assets on while you’re still alive.

Each year, give your children “gift” dollars. Gifting your children’s inheritance tax-free now can allow you to all enjoy this special time together.

By giving them money now, you’ll reduce your overall assets that taxes may be required to pay when you die.

When you die, your heirs will pay fewer taxes and keep more of your assets.

Consulting with estate agent

Common Estate Planning Mistakes To Avoid

Estate planning encompasses much more than the distribution of cash, real estate, and other assets. In estate planning, there are a number of common mistakes to avoid. Avoid the following errors for a good estate plan:. Procrastination, not taking advantage of unified credit, insufficient life insurance. Estate planning is one of the most significant things you can do for your family. Leaving some wiggle room in your estate plan will allow your heirs to take advantage of any changing legislation.