April 05, 2017
New tax incentive to save for college, grandparent-funded 529 plans, handling your digital footprint dilemma, gifting family business interests to a trust for children, and more. Here’s what’s trending in estate planning and wealth management.
Ever wonder what happens to your digital footprint at your death?—Stephanie A. Bruno
In order to minimize estate taxes owed at death, business owners should strongly consider advanced estate planning techniques, including a gift or sale to a defective grantor trust.—Michelle R. Canerday
The execution of an estate plan often means you have taken care of the first step in your estate planning process. Don't forget about the other steps that need attention for your estate planning goals to be met.—Jay D. Rosenbaum
Grandparents should consider using 529 plans only during the last two years of college (or later if graduate school is likely).—Thomas A. Stedman
For a limited time, Massachusetts residents may deduct contributions to 529 Plans up to a certain amount from their state income tax returns.—Julie Wood
Some of the tuition, fees and other education expenses you paid may qualify as education expenses for income tax purposes.—Daniel N. Jones
The government has to pay its bills during the year, so the IRS might just make you pay them throughout the year as well.—Aaron Poirier
If you itemize your deductions, make sure your medical expenses are eligible for deduction before including them.—Tiffany Wong
Your spring cleaning could result in a deduction on your federal income tax return.—Dawn E. Lannon
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