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Capital Gains and Home Sales

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 exclusion provided for by the Int...

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Who Gets Copies of the Will After a Death?

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. As a matter of fact, this hasn't been the common pr...

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The Child Tax Credit for 2021

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 pandem...

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How to Pick an Executor

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, organized and able ...

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What’s the Difference Between Active and Passive Investing?

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 an investment manage...

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How Payable-on-Death Accounts Compare with Trusts

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 needed to do this? Just properly notif...

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5 Options to Pay for Assisted Living

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 help you overcome the financial hurdles. Keep r...

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How to Transfer Wealth to the Next Generation

Thinking about passing assets on to your next generation? Your parents are aging and passing away; your own children are reaching adulthood. You realize that you need to focus on wealth- transfer plans. This may appear to be a...

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A Fresh Look at Distributing Inherited Assets

In theory, parents can get as specific as they want, deciding which children and grandchildren should get the fancy lamp from the living room or the painting of the ship in the dining room. But unless they're items of great intrinsic value, that usually isn't done, an...

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Final Wishes: Alternatives to Burial

History and anthropology tell us that cultures past and present deal with their departed in interesting ways, such as the Vikings being launched out on ships-turned-crematoriums. Today, environmental concerns are pushing us to explore new options: Your body in soil wi...

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Wills 101

Estate Planning LawyerA will outlines the distribution of your assets following your death, sim...

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4 Tips for Planning for Your Post-Retirement Future

With age, the focus often turns from planning for the purchase of a bigger home to planning to have enough income to live well after retirement. Many factors contribute to this calculation, but following are four common considerations: Do I need an income...

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