ABLE accounts were authorized by the Achieving a Better Life Experience Act of 2014 and can be an excellent resource for individuals with disabilities. Let’s take a deeper dive into what these accounts are, how they can benefit certain individuals, and some new regulations issued by the Internal Revenue Service (IRS) in order to clarify…
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Estate Planning Isn’t Just for Married Couples Estate planning is not only for married couples – if you are single, estate planning can still be an essential financial tool. For example, you may want to: • Arrange for your assets to be distributed after your death • Pick someone to handle your financial affairs if…
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Taypayer Bill of Rights With the tax filing season having started on February 12, 2021, for individual tax return filers, here is a reminder to all filers that, in 2015, Congress enacted the Taxpayer Bill of Rights in Section 7803(a)(3) of the Internal Revenue Code to ensure that all taxpayers have rights in dealing with…
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Interview with Betsy Schaffer, Special Olympics Montana Athlete of the Year Special Olympics Montana Athlete of the Year As we have announced recently, we have partnered with Special Olympics Montana as our Charity Partner of the Year. Special Olympics is an organization that is important and impactful for so many people! Below is an interview…
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Our Charity Partner of the YearOur Charity Partner of the Year This year, Scott, Tokerud & McCarty will launch our Charity Partner of the Year program. The 2021 Charity Partner of the Year was chosen because they act with integrity and humility, and they show extraordinary dedication to transforming the community. The 2021 Charity Partner…
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Probate Administration – Frequently Asked Questions (This blog has been updated from the post dated August 8, 2012) 1. What is probate? Probate is the process of proving the Will, appointing the Personal Representative, paying the decedent’s debts, filing applicable tax returns, collecting any monies owed the decedent, and identifying, valuing, and transferring the decedent’s…
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Giving to Charity Giving to Charity We are all blessed to live in a giving community. Over the years, I have had the privilege of serving on several non-profit boards in Great Falls, including Community Help Line, Children’s Museum of Montana, Montana School for the Deaf and Blind Foundation, Great Falls Public Schools Foundation, and…
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Estate Tax Exemption And Annual Gift Tax Exclusion For 2021 Official Estate and Gift Tax Limits for 2021 The Internal Revenue Service announced at the end of October the official estate and gift tax limits for 2021: The estate and gift tax exemption is $11.7 million per individual, up from $11.58 million in 2020. That means…
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Montana Transfer on Death Deed Transfer on Death (TOD) Deed Montana has replaced the Beneficiary Deed with the Transfer on Death (“TOD”) Deed. Both are intended to allow owners to transfer, effective upon death, their real property located in Montana to one of or more beneficiaries or grantees. The new TOD Deed is now the…
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Our 2020 Reminder to Relax and Enjoy Life (Whenever & However You Can) This year has been hard for so many of us. The pandemic has changed the way we live in dramatic ways, while adding both worry and loneliness to the stress of a major election year. As the year comes to a close,…
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