Banner Image

Melanie Abigania and Jessica Simons

Recent Posts

Why a Gifting Strategy Still Matters

Posted by Melanie Abigania and Jessica Simons on Nov 18, 2021 8:36:23 PM

The IRS recently announced next year’s cost-of-living adjustment amounts. For 2022, the federal gift and estate tax exemption has cracked the $12 million mark: $12.06 million to be exact. Arguably more notable, the annual gift tax exemption has increased by $1,000 to $16,000 per recipient ($32,000 for married couples). It’s adjusted only in $1,000 increments, so it typically increases only every few years.

Read More

Topics: Estate Planning

Estate Planning for the Young and Affluent Can Be Tricky

Posted by Melanie Abigania and Jessica Simons on Oct 27, 2021 1:52:50 PM

Events of the last decade have taught us that tax law is anything but certain. So how can young, affluent people plan their estates when the tax landscape may look dramatically different 20, 30 or 40 years from now — or even a few months from now? The answer is by taking a flexible approach that allows you to hedge your bets.

Read More

Topics: Estate Planning

If Your Wealth is Concentrated in a Single Stock: Estate Planning Pitfalls May Exist

Posted by Melanie Abigania and Jessica Simons on Oct 27, 2021 1:51:22 PM

Estate planning and investment risk management go hand in hand. After all, an estate plan is effective only if you have some wealth to transfer to the next generation. One of the most effective strategies for reducing your investment risk is to diversify your holdings.

Read More

Topics: Estate Planning

Don't Forget to Take State Estate Taxes into Account

Posted by Melanie Abigania and Jessica Simons on Oct 27, 2021 1:38:13 PM

A generous gift and estate tax exemption means only a small percentage of families are currently subject to federal estate taxes. But it’s important to consider state estate taxes as well. Although many states tie their exemption amounts to the federal exemption, several states have exemptions that are significantly lower — in some cases $1 million or less.

Read More

Topics: Estate Planning

Is Your Power of Attorney for Property Powerful Enough?

Posted by Melanie Abigania and Jessica Simons on Sep 29, 2021 12:57:45 PM

Your estate plan may include a power of attorney for property that appoints another person to manage your investments, pay your bills, file your tax returns and otherwise handle your property if you’re unable to do so. But not all powers of attorney are created equal. Thus, it’s a good idea to periodically review your power of attorney with your advisor to ensure that it continues to serve its intended purpose. Questions to consider can include:

Read More

Topics: Estate Planning

Estate Planning in a Socially Distanced Environment

Posted by Melanie Abigania and Jessica Simons on Sep 28, 2021 2:31:48 PM

As many states continue to struggle with the current surge in COVID-19 cases, the “new normal” demands continued social distancing in many areas of life. What does this mean for estate planning? Clearly, estate planning is as important today — or arguably more important — than ever. But how do you plan your estate and execute critical documents if you’re uncomfortable with face-to-face meetings or are required to self-quarantine?

Read More

Topics: COVID-19, Estate Planning

Learn more about the services Sweeney Conrad offers