The upcoming federal elections are a reminder that estate plans should be reviewed frequently to make sure the plan carries out your wishes in a tax-efficient manner. You may want to revise your plan depending upon the...more
9/16/2020
/ Estate Planning ,
Estate Tax ,
Gift Tax ,
Income Taxes ,
Inheritance Tax ,
IRS ,
Presidential Elections ,
SLAT ,
Tax Cuts and Jobs Act ,
Tax Planning ,
Tax Rates
At McNees we understand that the last few weeks have been anxious ones as our clients and their loved ones navigate the onset of Coronavirus COVID-19 and volatile financial markets. Our first priority is the health and...more
Estate Planning for Real Estate Owners -
Estate planning for valuable, illiquid assets presents a variety of challenges. With respect to real estate, planning challenges can be compounded due to fractional ownership, outside...more
3/27/2019
/ Advance Directives ,
Buy-Sell Agreements ,
Death Tax ,
Debt ,
Estate Planning ,
Income Taxes ,
Living Will ,
Power of Attorney ,
Property Owners ,
Real Estate Development ,
Tax Planning
Now that the mid-term elections have passed, it may be an opportune time for clients to review and possibly update their estate plans. Although the estate plans of most clients will not be affected by the mid-term elections,...more
Durable General Powers of Attorney (“DGPOAs”) are fundamental estate plan documents used to allow a person (the “Principal”) to appoint another person (the “Agent”) to exercise certain powers on behalf of the Principal...more
Deducting Miscellaneous Itemized Deductions -
You can elect each year to itemize deductions rather than claim the standard deduction. Itemized deductions are those that you claim on Schedule A of Form 1040, Itemized...more
Much of the estate planning process is engaged with protecting vulnerable persons from negative outside influences. We name guardians to take care of minor children, utilize Powers of Attorney to facilitate substitute...more
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.
...more