If you’re in line to receive a significant inheritance, your feelings may range from exhilaration to relief, not to mention a great deal of sadness for the loved one who has passed. Indeed, a large infusion of cash or assets...more
Your will is designed to provide for the disposition of your possessions and tie up any loose ends in your estate. To accomplish these goals, you may include specific bequests to named beneficiaries. For example, you might...more
If you’re preparing to get remarried, your estate plan likely isn’t top of mind. However, depending on the state you live in, your spouse has property rights that apply regardless of the terms of your estate plan. These...more
Generally, estate planning advisors recommend that you be upfront with family members about how you plan to divide your assets. For example, you might hold a family meeting or write a letter to accompany your will. However,...more
If a person is in line to inherit property from a parent or other loved one, it’s critical to understand the basis consistency rules. Tax law provides that the income tax basis of property received from a deceased person...more
2/5/2019
/ Estate Planning ,
Estate Tax ,
Fair Market Value ,
Gift Tax ,
Inheritance ,
Inheritance Tax ,
Internal Revenue Code (IRC) ,
IRS ,
Property Valuation ,
Real Estate Transfers ,
Reporting Requirements ,
Step-Up Basis
In This Issue:
- Time passages: Estate planning through the years
- Basis consistency rules come into play when inheriting property
- Estate tax laws continue to change; so should your plan
- ESTATE PLANNING...more
2/2/2019
/ Business Succession ,
Capital Gains Tax ,
Durable Power of Attorney ,
Estate Planning ,
Estate Tax ,
Fair Market Value ,
Gift Tax ,
Inheritance ,
Property Valuation ,
Real Estate Transfers ,
Tax Cuts and Jobs Act ,
Wills
If plans call to relocate to another country after retirement, be aware that they may be tarnished if a person doesn’t look into all potential estate tax and income tax implications first. This brief article explores three...more
If a person expects to receive an inheritance from a family member, he or she might choose to use a qualified disclaimer to refuse the bequest. As a result, the assets will bypass their estate and go directly to the next...more
In This Issue:
- When should you turn down an inheritance?
- Addressing intellectual property requires careful estate planning
- Year end is an ideal time to review your estate plan
- Estate planning pitfall: You’re...more
12/1/2017
/ Charitable Deductions ,
Disclaimers ,
Double Taxation ,
Estate Planning ,
Estate Tax ,
Expatriates ,
Family Businesses ,
Generation-Skipping Transfer ,
Inheritance ,
Intellectual Property Protection ,
Patents ,
Retirement ,
Trusts ,
Wills
Families that have children who are adopted, or stepchildren who haven’t been legally adopted, face unique estate planning challenges. Additional consideration must be taken when a family includes an unmarried couple in a...more
In This Issue:
- The net investment income tax and your estate plan: How one affects the other
- Use a noncharitable purpose trust to achieve a variety of goals
- Addressing adopted children or stepchildren in your...more
10/5/2015
/ Adopted Children ,
Estate Planning ,
Estate Tax ,
Gift Tax ,
Income Taxes ,
Inheritance ,
Jointly-Owned Property ,
Modified Adjusted Gross Income ,
Net Investment Income ,
Noncharitable Purpose Trusts ,
Stepchildren ,
Trusts
In This Issue:
- The BDIT: A trust with a twist
- Thanks, Grandma and Grandpa! 3 estate-planning-friendly strategies to pay for a grandchild’s college education
- Power of attorney abuse: What can you do...more
An inherent problem with wills and other estate planning documents such as trusts is that, when the time comes to put them into action, they can be objects of dispute. Fortunately, there are strategies a person can implement...more
For those who have adopted children or unadopted stepchildren, estate planning is critical to ensure that their property is distributed the way they desire. For those who are unmarried and in a long-term relationship with...more