This article was written by Gunnar M. Crowell, JD, Senior Charitable Estate Planning Advisor, American Heart Association. We at Vasiliadis Pappas Associates believe it represents a comprehensive explanation of important provisions relating to federal income taxation set to take effect in 2026. Bear in mind it was written for estate planning professionals. Consequently, it may
Takeaways Many high-net-worth families make the costly mistake of not filing an estate tax return when the first spouse dies, even when no taxes are due. If they fail to file IRS Form 706, the surviving spouse loses the valuable benefit of estate tax portability, which allows them to inherit any unused portion of the
Takeaways A durable power of attorney is a legal document that allows a trusted individual to make financial or health care decisions on your behalf if you become unable to handle your own affairs. This document provides long-term safeguards, ensuring your affairs are managed without court intervention. Though you are likely in good health now
