As I mentioned in Part 1 of this article, a recent extensive survey indicated that most Americans have no estate plan at all. Part 1 dealt with planning for the immediate concern after one’s death: disposition of your...more
In 2007, Harris Interactive® for Martindale-Hubbell® published a large survey which concluded that more than half of all Americans dying do not have a Will or any estate planning at all. That percentage goes even higher for...more
In Steinberg v. Commissioner, 141 T.C. No.8 (2013), the U.S. Tax Court reversed a position it had previously taken, and held that the value of a taxable gift could be reduced when the recipients of the gift agreed to assume...more
In estate planning, we often focus heavily upon (a) reducing estate taxes and (b) avoiding probate. But equally important are the considerations regarding our family who survive us, and the legacy we wish to leave behind....more
One of the most valuable things in my possession is a collection of several CD’s which I had made from some old cassettes recorded by my maternal grandfather, Sam. He was an immigrant who came to America from the Ukraine in...more
We all have hopefully made explicit designations of beneficiaries for our life insurance policies, retirement accounts and even some investment accounts which provide for payment upon death without a court order. It’s...more