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Tag: Tax Planning

Suddenly Single, With Wealth—Is There a Problem Here? Part One

Recently, a newly divorced woman in her 50’s asked me if I knew of any good books for middle-aged, single woman of wealth. My eloquent answer was, “Um, er . . . .” Others might have more flippant responses like, “Why? Where’s the problem?” It may be hard to empathize...

Why Inheriting the Family Home Can Be a Bad Idea

For many of us, our home is more than just a piece of property. It holds deep memories and emotional meaning, especially if we raised our families there. For this reason, estate planning discussions often include leaving the family home to the kids. This can be a way...

When “Financial Planning” Is Not Financial Planning

Whenever I surf television cable news channels, I can’t help but notice the plethora of ads for financial planning. Some of them sound compelling, even to me. I often find myself thinking, “Dang, that’s exactly what we do.” Then I notice the...

Are South Dakota Trusts Immoral “Tax Havens”?

South Dakota has certainly been in the news recently. Coverage of the leaked “Pandora Papers” included headlines like “How South Dakota became a global tax haven,” “South Dakota Is a Moral Sewer and Should Be Abolished,” and...

Understand the Child Tax Credit Payments

In July, families eligible for the federal Child Tax Credit will begin receiving monthly payments instead of waiting to receive an annual credit when they file their 2021 tax returns. One parent of two small children thinks the change will make a significant...