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Irrevocable Life Insurance Trust (ILIT): Remove Life Insurance from Your Taxable Estate
An Irrevocable Life Insurance Trust (ILIT) is a type of trust that owns a life insurance policy outside your taxable estate. When you die, the life insurance proceeds pay into the trust and are distributed to your beneficiaries — potentially free of both income tax and estate tax. For high-net-worth individuals facing estate tax exposure,
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Step-Up in Basis: How It Reduces Taxes on Inherited Assets in 2026
The step-up in basis is one of the most valuable and underappreciated provisions in the U.S. tax code for estate planning. When you inherit an asset — a home, stocks, a business interest — the tax basis of that asset is “stepped up” to its fair market value at the date of the original owner’s
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Inherited IRA Rules: The 10-Year Distribution Rule Explained (2026)
Inheriting an IRA used to mean a lifetime of tax-deferred growth. The SECURE Act of 2019 ended that strategy for most non-spouse beneficiaries by introducing the 10-year rule, which requires the entire inherited IRA to be emptied within 10 years of the original owner’s death. SECURE Act 2.0 (2022) added further nuances. Understanding these rules
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Solo 401(k): Complete Guide for the Self-Employed in 2026
A Solo 401(k) — also called an individual 401(k) or one-participant 401(k) — is a retirement savings plan designed specifically for self-employed people and business owners with no full-time employees other than a spouse. It offers the highest contribution limits of any self-employed retirement account, plus the flexibility to choose a traditional or Roth structure.
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What Is a Generation-Skipping Trust (GST)? Passing Wealth to Grandchildren Tax-Free
A generation-skipping trust lets you transfer assets directly to grandchildren or great-grandchildren while avoiding estate tax at your children’s generation. Here is how GSTs work.
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What Is a Spendthrift Trust? How to Protect an Inheritance from Creditors
A spendthrift trust protects an inheritance from a beneficiary’s creditors, poor financial decisions, and divorce proceedings. Here is how they work and when to use one.
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What Is a Backdoor Roth IRA? How High Earners Get Into a Roth
A backdoor Roth IRA lets high earners contribute to a Roth IRA even when their income exceeds the limit. Here is how to do it step by step in 2026.
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What Is a Bond Ladder? A Simple Strategy for Steady Fixed Income
A bond ladder staggers bond maturities so you always have income coming due. Here is how to build one, why investors use them, and how they compare to bond funds.
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What Is a Variable Annuity? How They Work, Fees, and When They Make Sense
A variable annuity is an insurance contract that lets you invest in market subaccounts with tax-deferred growth. Here is how variable annuities work, their fees, and who should consider one.
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What Is a Dynasty Trust? How to Pass Wealth to Multiple Generations
A dynasty trust lets you transfer wealth to your grandchildren and great-grandchildren while minimizing estate taxes at each generation. Here is how they work.