Why You Need to Update Your Beneficiary Designations
It seems, doesn’t it, as if your estate planning is never just done. There’s no magic solution to arranging your estate plan and leaving it alone. Because life goes on, things happen, relationships change. And, as they do, your estate planning needs change with them. I want to talk about the vital importance of updating […]
Plan NOW For Your 2023 Taxes!
It’s hard to believe it. But the calendar doesn’t lie (I don’t think), and we are now into the 4th quarter of 2023. So, time for tax planning. There’s still time to make meaningful adjustments to your tax plan, and we encourage all of you to consult with your financial advisor, tax attorney, virtual CFO, […]
Tax Deadline Relief Due to Saltwater Intrusions!
On September 27, 2023, the Federal Emergency Management Agency (FEMA) announced the availability of federal disaster assistance to the State of Louisiana, to combat the emergency resulting from saltwater intrusion, which began on September 20, 2023, and has already impacted drinking water supplies in some areas. Two days later, on September 29, 2023, the IRS […]
Changes Coming for RFG!
Expect some changes in the coming weeks to RFG’s emails and blog posts. Look for our emails on Tuesdays instead of Wednesdays. If you haven’t opened our Tuesday email, it will be re-sent to you on Thursday, rather than Friday. If you read our website blog, that will be updated weekly on Tuesday mornings. There […]
Don’t Get Scammed!
I recently heard from a client about how she got scammed. She’d bought (or thought she’d bought) a lot of gift cards on the promise she would receive a gift worth more than she spent. Well, needless to say, she not only didn’t receive the freebie, but the gift cards weren’t real, either. She lost […]
The Portability Election – And Why It’s Important!
One of most frequently overlooked tools in your estate planning arsenal is the portability election. Estate portability elections stem from Sec. 2010(c)(5)(A), which provides that a deceased spousal unused exclusion (DSUE) amount becomes available to a surviving spouse’s subsequent transfers during life and at death but only if the executor of the decedent’s estate timely […]
When Do You Need a Trust?
Estate Planning – Trusts Estate planning can be a difficult task – or many individual tasks. You want to protect your surviving spouse and your children’s future, minimize estate taxes, and maybe avoid probate court for some of your assets. We’ve discussed the need for wills and powers of attorney, but there’s another vehicle to […]
The Family Meeting on Your Financial Affairs – and Why You Need to Have One
Money and death. Most people (myself included) find these topics difficult to raise with family members. One’s approach to both is necessarily emotional as well as, hopefully, rational – for all parties to the discussion. But a crucial factor in estate planning is talking with your family about your plans. All too often, family discord […]
Why You Need a Financial & Estate Organizer – and What to Put in It
A friend of mine told me a story about her mother’s death. Her father had died the year before. While she and her siblings were still reeling from the one-two punch of grief, they found her mother’s financial and estate documents completely unorganized, anywhere but not everywhere. Some stock certificates were unlocatable and had to […]
The Unlimited Spousal Deduction Explained
One great benefit of being married (when it comes to estate planning) is that you have an avenue to make gifts, both during your lifetime and at your death, to your spouse in any amount and entirely free of federal tax consequences. All non-spousal gifts and bequests are subject to IRS gifting limits and estate […]