Is SBP Expensive?
If you go to Facebook or LinkedIn and look a bit you'll find threads talking about SBP. There are always people that say SBP is too expensive. I wonder how they came to that conclusion. Here is my analysis.
If you go to Facebook or LinkedIn and look a bit you'll find threads talking about SBP. There are always people that say SBP is too expensive. I wonder how they came to that conclusion. Here is my analysis.
Thinking about taxes when timing of death becomes more certain may seem inappropriate. But, it could greatly benefit someone who needs it. In the scenario where an individual may hold assets with a loss upon death, you can pass an economic benefit to someone through effective gifting.
You may have heard about using trusts as part of your estate plan. You may have also figured out there are different types of trust. But what do they accomplish and what are the differences?
Wondering how to unequally divide your assets without dividing your family? If you’re thinking about leaving more for one child than the other, it’s important to know your options.
A lot of Senior Military Officers and SNCOs in or approaching military retirement inherit IRAs from parents or others. The SECURE Act changed the rules on how you must take distributions. You have choices, but make sure you don't go with the "obvious" solution before you work out the numbers.
More than one active or retired senior military officer or NCO is in a second marriage with children from a first marriage. This can complicate estate planning especially if estate taxes are a concern. One tool to help with planning is a QTIP Trust.
Many retired military senior officers and NCOs own real estate in a state different than they live. They might own rental property or maybe a vacation home. In either case, without proper planning, they could be subject to ancillary probate.
When I teach at ETAPs, a lot of retiring senior military officers and NCO's ask me about gift taxes. I explain the annual exclusion. But what happens if you exceed that amount?
If you've ever worn the uniform of this country, there is a really good chance you have a will based estate plan. While there is nothing wrong with a will based plan and if you have one you're ahead of most Americans, but you might want to consider an trust based plan too. To do that you need to understand them.
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