The historical gift tax exclusion amount is $19,000 for 2025, unchanged from 2025, up from $18,000 in 2024, $17,000 in 2023, and $16,000 in 2022. As a result, you may want to contribute more to your child’s 529 plan or give them more money if your estate may surpass the estate tax threshold when you […]
Historical Gift Tax Exclusion Amounts: Be A Rich Strategic Giver Read More »
Something funny happened on our long and intricate preschool admissions journey. A school we had applied to in 2017 reached out and said they have a spot for our son this fall. Now we have to decide whether to forego an enrollment deposit at another school or stay the course. We jokingly refer to this
Forfeit The Enrollment Deposit For A Better School? Read More »
If you’re a parent, you might consider starting a 529 plan for generational wealth transfer purposes in addition to paying for your child’s education. Even if you are not a parent yet, you should consider opening up a 529 plan. You can open the 529 plan in your name and change the beneficiary later. There’s
Using A 529 Plan For Generational Wealth Transfer Purposes Read More »
Before becoming a father in 2017, I dreaded changing diapers. Now that I am a father, I long to win the poop lottery. To see my boy take a gigantic dump is curiously gratifying. Digestion system. Check! Before becoming a father, I wrote a lot about supporting mothers because I couldn’t fathom having to carry
Become A Better Father: Time To Man Up Dads! Read More »
If there’s one generation wealthier than ours, it’s the “Bank of Mom and Dad” generation. Given that our parents have had, on average, three decades longer to save and invest, it’s natural that they have accumulated more wealth. For adult children in need of financial assistance, finding a tactful way to approach their parents for
The Bank Of Mom And Dad Strategy To Buying A Home And Having A Family Read More »
The stepped-up basis for our children was under attack. The Biden administration wanted to either abolish the stepped-up basis altogether or alter it to generate more tax dollars. So I expect for democratic presidents and congress people will want to abolish the stepped-up in cost basis as well. If heirs are then forced to pay
Why The Stepped-Up Basis Must Be Preserved For Our Children Read More »
For someone who lived abroad for 13 years, has so far traveled to over 60 countries, and traveled constantly for work, I’m traveled out! Getting on a plane to see the world is no longer a top priority. Therefore, traveling with kids is towards the bottom of my to do list. However, if you have
Traveling With Kids: A Planning Parent’s Guide To The Great Unknown Read More »
If you’re thinking about hiring an au pair, you know firsthand how much work is involved in raising kids. The pandemic switched life to extreme hard mode for working parents with young children. Hiring an au pair is one of the best ways to save on childcare and have more consistent and flexible help. Thankfully,
Hiring An Au Pair May Be The Best Childcare Decision A Family Makes Read More »
Are you a parent worried about getting your kid into a great preschool or private grade school? Ever wonder about the preschool or private grade school interview process? Or how about what type of interview questions they will ask and what type of kids get in? After three years of navigating the preschool admissions process
How To Get Into A Great Preschool Or Private Grade School Read More »
When people consider the costs of having many children, they often focus solely on the financial burden. But the true cost of raising a large family goes beyond money. It includes the time, devotion, education, sacrifice, love, support, and attention that children need. When any of these elements are lacking, the consequences can be tragic.
The Cost Of Raising Many Children Isn’t Just About The Money Read More »
