Estate Planning
2018 Tax Reform: Here’s What You Need to Know
The new tax law passed by Congress should send tax preparers into a scramble, helping taxpayers understand how 2018 will be different from 2017. Early estimates and projections show the largest impact will not be from the changing tax rates, but instead from the new tax deduction rules. Specifically, the doubling of the standard deduction…
Read MoreTax Savvy Giving
At First Pacific Financial, we often evaluate these types of strategies for our clients. There can be many factors to consider in your individual situation and these should be carefully understood and evaluated before making this a long term strategy.
Read MoreThe Role of an Executor: What am I responsible for?
In the role of Executor, the complexity of your responsibilities will vary based on the complexity of the decedent’s assets. In general, you are responsible for sorting out the finances of the deceased, making sure debts and taxes are paid, and distributing assets to the heirs.
Read MoreEstate Planning 101: Shaping Your Future, The Essentials
Whether you have a complex financial situation or a simple one, estate planning is a way to take care of yourself and the people you love.
Read MoreWhat is a Charitable Remainder Trust and when would I consider using it?
The first reason you would consider a CRT is because you are charitably inclined. This vehicle can provide a way to give, when you might otherwise be unable to do so. In addition, if you are considering an action that has a significant tax liability and/or you need to generate income, this type of trust can provide certain advantages.
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