Bott & Associates, Ltd.

One question estate planning clients often struggle with is who to appoint as a probate executor for a will or a trustee for a trust. Although people often only look at such decisions they make as the “honor” or “privilege,”…

There’s a good chance that the profit from your home sale will not be taxable. Unmarried individuals can exclude up to $250,000 in profits from capital gains tax when they sell their primary personal residences, thanks to a home sales…

Fans of murder mysteries may assume that distributing a will is simple. There is one copy, which the decedent’s lawyer keeps on file, and after a death all heirs are brought in to hear the lawyer read the will aloud.…

The Child Tax Credit is for individuals who claim a child as a dependent if the child meets certain conditions.  The CTC was created in 1997 and has been expanded several times since, most recently in 2020. The COVID-19 pandemic…

There’s a key aspect of creating an estate plan that you shouldn’t gloss over: choosing whom to carry out the wishes outlined in your will. This person will essentially be making important decisions on your behalf. Select someone who’s trustworthy,…

There is no one way to invest in the stock market. There are different strategies for making money, two of which are active and passive investing. They require different skills and behavior and deliver different results. Before investing or hiring…

Payable-on-death accounts are a type of bank account that, at the owner’s death, lets the money remaining pass directly to the beneficiaries named by the account owner. They offer an easy way to keep money out of probate. What is…

It’s not always the easiest of conversations, but long-term care can be an expensive necessity that comes toward the end of life. If you or a loved one is struggling to pay for assisted living, there are options that can…