One of the things that makes managing legal issues so challenging is that the laws are always changing. This blog is designed to help you stay current on many of the latest changes.
As reported in Forbes, congress has recently introduced two bills that would repeal the federal estate tax entirely. The two bills, S. 1183: Death Tax Repeal Act, and H.R. 2429: Death Tax Repeal Act of 2013, both aim to permanently repeal the federal estate tax. Senator John Thune, who introduced S. 1183, believes that the […]
read more...Recently, the United States Supreme Court struck down the Defense of Marriage Act (“DOMA”), claiming that it was unconstitutional. As a recent article explains, this decision will have a huge impact on estate planning for same sex married couples. DOMA defined marriage as between one man and one woman. By striking down this definition, the […]
read more...When Juliann Reynolds created her estate plan, she worried what would happen if her daughter received her full inheritance at the age of 18. In order to avoid this fate, Reynolds staggered her daughter’s inheritance so that she would not have full access to the trust until she was in her 40s. A recent article […]
read more...Although not necessary for every estate, a trust fund can be beneficial for many individuals and families. A trust is simply another estate planning tool used to assist individuals and families in reaching their estate planning goals. A recent article discusses several ways that a person can benefit from a trust. A trust allows its […]
read more...It is often difficult and awkward to sit your children down and tell them what they will inherit upon your passing. As a recent article in the Wall Street Journal points out, however, it is important to communicate your estate plan with your children. Before revealing to your children the full extent of their inheritance, […]
read more...Many people believe that probate should be avoided at all costs. However, the urgency to avoid probate can sometimes lead to unwanted consequences. A recent article in The New York Times discusses probate avoidance traps for the unwary. One of the most popular ways to avoid probate is through a living trust. You can hold […]
read more...In 1998 there was overwhelming press coverage the legal battle over the future of Terry Schiavo. The legal battle centered around whether Schiavo should be kept alive in a vegetative state. The reason the legal battle was able to occur and drag on as it did was because Schaivo never executed a living will (aka […]
read more...If you have an IRA account, 401(k), or annuity, take a minute to consider who the beneficiary of your account(s) is. While this may be an easy answer for some, others may not be exactly sure of who, if anyone, is named as beneficiary on these important accounts. Whether you are aware of who your […]
read more...The standard power of attorney is a basic part of any estate plan. Unfortunately, as a recent article points out, it may also become a license to steal. The power of attorney is a legal document that allows an agent to make legal and financial decisions on behalf the principal if and when he or […]
read more...Many families have certain objects that they consider to be family heirlooms. Whether these items consist of expensive collections or inexpensive trinkets, many family members will place a special importance on these items. A recent article discusses several ways to avoid family feuds over important heirlooms. One common problem with distributing family heirlooms is determining […]
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