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Life insurance is present in almost every estate plan and serves as a source of support, education-expense coverage, and liquidity to pay death taxes, pay expenses, fund business buy-sell agreements and sometimes to fund retirement plans.

If you receive an audit notice from the IRS, hiring a tax professional to represent you is probably the best strategy. However, should you choose to handle an audit yourself, the Taxpayer Bill of Rights allows you to tape record your meetings with an auditor and to adjourn a meeting with an auditor at any time to either consult with your tax advisor or to request professional representation.

When assets are not titled correctly, your property might not pass to your intended heirs.

You can easily draft your own will through one of two methods: type it yourself on a computer or typewriter, or create one through an online program. Although handwritten wills are permitted, creating a formal, typed document is less likely to cause trouble.

When planning your estate, you may consider setting up a revocable living trust. A properly managed revocable living trust can provide unique benefits; however, it does not completely replace a will.

By coordinating your tax strategies with your life changes and financial strategies, you may accomplish a variety of goals, such as buying a home, funding a child’s education, and funding your retirement.

By engaging in some simple estate planning, you can protect your privacy as well as ease the management of your estate after your death. After all, digital assets are today’s shoeboxes of photos, letters, and other mementos. Planning can preserve your legacy in its digital form.

While an obvious advantage to a 401(k) and other qualified plans is the ability to take a deduction today and postpone paying taxes until tomorrow, it is clearly not the only advantage. Even more important is the ability to invest employee retirement funds on a tax-deferred basis. As a result, whether tax rates remain the same or increase, a 401(k) plan remains a valuable tax planning tool for small business owners.

You’re already sharing a life, now it’s time to share some important info to get your matrimonial journey off to a great start.

The careful planning of an estate requires a great deal of expertise. If you surround yourself with a professional, supportive team as you begin the process, working through its many stages and adjusting your plans over time will assure you—and those you love—that the future will be secure for all.