Have you heard proposed changes to the capital gains tax rate buzzing around the retirement planning world? If you are already a senior citizen and are depending on your retirement savings to fund the rest of your retirement, you may want to consider following these four tips that seniors will need if the capital gains tax...
Irrevocable trusts are often recommended as part of estate planning for families in a variety of circumstances. Whether you have a high net worth and want to use a trust for tax purposes, or you want to ensure that your children’s finances will be handled in the event of your untimely passing, there may be many...
Have you heard that Law Offices of John Mangan, P.A. has been named the TCPalm.com, Best of the Best for the category of Estate Planning Attorney? This honor comes after results were generated from over 41,000 votes from the TCPalm.com coverage area which includes the entire tri-county region of the Treasure Coast. This means that voters...
Are you setting up plans for your own golden years or trying to help your parents who are already in theirs? If so, you should consider consulting with an experienced elder law attorney to help ensure that you are doing the best you can to protect your finances later in life and preserve your assets for...
Has your loved one become more forgetful? Is it making an impact on his or her ability to get through daily activities? If so, it may be time to consider memory care. A memory care community is a place to live where your loved one can be cared for by trained dementia care professionals. It may...
Updating your estate plan may not be at the top of your to-do list when you move to a new state. Did you know, however, that different states have different rules when it comes to estate tax, inheritance laws, and medical care? It can be important to update your estate plan accordingly to help ensure it...
Have you heard that the Biden administration has proposed several major changes to the federal estate tax? These include raising the capital gains tax rate for the highest earners to match ordinary income tax rates and removing the step-up basis provision that previously allowed heirs who inherited assets to avoid capital gains tax on any asset...
Are you worried about the possibility of a change in your federal estate tax? If so, now may not be the time to panic, but it may be the time to plan. There are several steps you can take to be prepared and plan for an estate tax change that may negatively impact your estate, while...
Have you heard of the proposed tax changes on the horizon with long term capital gains tax rates being a big focal point? Currently, the top capital gains tax rate is 23.8%. This number is reached by adding the 20% top capital gains tax rate and a 3.8% surcharge on the highest earners intended to fund...
Have you heard the recent buzz in the news about the federal estate tax exemptions? The federal estate tax exemption was raised to $13.61 million for individuals and $27.22 million for married couples in 2024. The 2023 exemption currently sits at $12.92 million per person or $25.84 million for a married couple. Given these numbers, many...
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