Aug 16, 2022 | Estate Planning & Administration
Women control a third of total U.S. household financial assets—more than $10 trillion. Globally, women’s wealth is expected to reach $93 trillion by 2023. Women are also the largest beneficiaries of the current transfer of wealth—living an average of five years longer...Aug 2, 2022 | Estate Planning & Administration
Thanks to recent changes from the IRS, it is now easier for high-net-worth couples to reduce federal estate taxes. The IRS extended the period for portability elections to five years after the date of death of the first spouse. The portability election allows a...Jul 20, 2022 | Estate Planning & Administration
Marriage is a significant life event that typically results in changes to financial responsibilities and legal rights. However, while couples may share mutual assets—such as bank accounts, personal property, or real estate—it is still essential for both spouses to...Jun 28, 2022 | Estate Planning & Administration
Many people wait to prioritize estate planning until marriage or children, but estate planning is equally important for single people. While some single individuals may not need a will to provide protection for a spouse, partner, or minor children, they do need to...May 17, 2022 | Estate Planning & Administration, Understanding Trust Administration
Cumberland Trust’s Vice President and Director of Personal Trust Administration, Alex Gillott, recently joined UBS Advisor Langley Respess as a guest on his Life, Work, and Money podcast to discuss estate planning with trusts and examine the differences between...May 5, 2022 | Estate Planning & Administration
Taking the time to ensure your estate planning documents are accurate and up to date is equally as important as establishing an initial estate plan. Circumstances change over your lifetime and your estate planning documents should be updated as needed to reflect those...