Read Wills, Trusts, & Estate Planning updates, articles, and legal commentary from leading lawyers and law firms:
The Greatest Gift: Your Individual + Family Estate Plan
The 2010 Tax Relief Act and your estate plan
Are your estate planning documents protecting your assets?
Same-Sex Marriage Cases in 90 Seconds
Should you Opt-Out of the Voluntary Disclosure Program?
Death and Foreign Asset Disclosure. What you don't know can cost you…a lot
Safeguard Your MVA: Devising a Business Succession Plan that will Preserve your Most Valuable Asset
Divorce can be costly, especially when it reveals undisclosed foreign assets.
Estate Planning: Wills, Trusts, & Power of Attorney in Arizona - Putting Family First
Foreign Asset Disclosure Program
Because beneficiaries of programs like Supplemental Security Income (SSI) and Medicaid must be quite poor to qualify, they can lose their benefits when they come into an inheritance, receive money in their own names from an...more
Beginning on January 1, 2014, any entity with an employer identification number (EIN) issued by the Internal Revenue Service (IRS) must report a change in the identity or address of its “responsible party” within 60 days of...more
You probably know you need a will, but do you know what a will is? A will, also called a last will and testament explains your final wishes and instructs how you would like them carried out. A will can do many things...more
In the recent 2nd DCA case of Berlinger v. Casselberry, the court allowed a continuing writ of garnishment against distributions to be made to a beneficiary of what appears to be a discretionary trust, for unpaid alimony...more
Doctors recommend visiting once every year for a physical, and dentists stress the importance of six-month checkups, but did you know that you should also take the time to review your special needs plan with your attorney at...more
The purpose of this post and is to bring you, our clients, information about a type of ‘asset’ most of you own. These assets are called Digital Assets, which include any electronically-stored accounts, information and data....more
You have an estate plan. In fact you just created one last year. So why would your estate plan need a makeover? Estate plans should never be rigid or concrete. Instead they should be malleable and easily adapted to meet your...more
If you are thinking about filing for bankruptcy and are the beneficiary of a trust, you're probably concerned that you will lose your interest in the trust if you file. To determine whether your trust is at risk you must...more
Owners of residential property in Michigan, including cottages, wanting to transfer the property to a relative without uncapping the value for property tax purposes, may be in luck. The Michigan Legislature has adopted a new...more
Following a divorce, you should carefully review your estate plan to ensure that your former spouse will not receive any unintended distributions from your estate. Unless otherwise required by the terms of the divorce, you...more
Increasingly, we interact with the world around us through digital devices and social media. Compared to decades past, our most essential information is now stored on a computer or hand-held device. Everything can now be done...more
The coming of the New Year brings new Federal and Rhode Island estate tax exemption amounts as both exemptions are adjusted annually for inflation. The Internal Revenue Service recently announced the new Federal Exemption...more
A recent Tax Court case addressed some interesting issues relating to the estate tax value of an LLC interest. Below is a summary of these issues....more
The constructive general inter vivos power of appointment is the product of the marriage of power of appointment doctrine and creditors’ rights doctrine. It is a topic that is taken up in §4.1.3 of Loring and Rounds: A...more
In This Issue:
Timely Year-End Tax Planning Can Reduce Taxes; Income Tax Cost Basis Planning; and Marriage and Taxes in 2013.
Excerpt from Timely Year-End Tax Planning Can Reduce Taxes -
Two significant events in 2013 underscored the nexus of marriage and taxes that make it possible for many couples to radically simplify their estate planning.
In this issue -
- Federal Estate, GST and Gift Tax Rates
- Annual Gift Tax Exclusion
- Federal Income Tax Rates
- President’s Budget Proposal for Fiscal Year 2014
- Important Planning...more
Attorneys often encounter situations in which someone makes a will or designates a beneficiary naming their spouse as the heir or beneficiary, separates from their spouse, fails to make changes to their will or beneficiary...more
A new tool is now available for North Carolina citizens and health care providers that will help everyone understand end-of-life health care planning options and processes available under North Carolina law. The new website...more
Prior to the recent and significant increases in the federal estate tax exemption amount, many clients engaged in planning the purpose of which was to ensure the use of both spouses’ exemption amount through the use of a...more
In a highly publicized recent case in California, a registered nurse working in an independent living facility refused to initiate cardiopulmonary resuscitation (CPR) on an elderly resident who was experiencing respiratory...more
In this issue -
- New Online End-of-Life Planning Tool Now Available to NC Citizens and Health Care Providers
- And the World Goes 'Round
- What Is “Past Quality of Care” in a CON Review?
- CMS Issues New...more
Year-end tax planning could be especially productive this year because timely action could nail down tax breaks that won’t be around next year unless Congress acts to extend them, which at the present time, looks doubtful....more
When someone dies, the probate process begins. Probate typically involves identifying and inventorying the property of the deceased, appraising the property, paying off debts and taxes, distributing the property according to...more
Planning an estate around specific assets is risky and, in most cases, should be avoided. If specific assets — such as homes, cars or stock — are left to specific people, they may end up being disinherited. This article...more