Act Now! There’s Still Time to Avoid the New IRS Regulations That Might Raise Taxes on Your Family’s Inheritance
The IRS recently released proposed regulations which effectively end valuation discounts that have been relied upon for over 20 years. If the IRS’s current timetable holds, these regulations may become final as early as January [...]
What Sumner Redstone’s Estate Planning Challenges Can Teach Us
Media mogul Sumner Redstone – owner of CBS and Viacom, among other holdings – allegedly created quite an estate planning mess, according to a recent report in the New York Times. A June 2nd article [...]
Transferring a Mortgaged Property into a Living Trust
Estimates from online real estate search firm Zillow indicate that nearly one-third of homeowners own their home free and clear. For the unlucky two-thirds who have either one or multiple mortgages on their home and [...]
Stepped-Up Basis in Inherited Assets
When considering leaving property to beneficiaries, tax considerations factor heavily in estate planning. Since one is hard pressed to find any aspect of our life (and death) that is not subject to some form of [...]
Why Most Estate Plans Do Not Work
Estate planning can be a tedious and complicated process, which if not conducted properly can result in assets being wasted due to being placed in expensive probate proceedings or unduly subjected to creditor claims and [...]
Medicaid Crisis vs. Medicaid Planning
A health condition that requires a family member to receive permanent, long-term care often does not occur with a great deal of advanced notice, particularly if the health event occurs suddenly such as in the [...]
Do You Need to Avoid Probate?
Probate is the legal process of presenting your Will to the Court after your death to authenticate it, and appoint your Executor. Your Executor must be appointed by the Court in order to collect and [...]
What To Do When a Disability Throws Your Estate Plan Into Chaos
As poet Robert Burns mused centuries ago, “The best-laid plans of mice and men often go awry.” Despite thoughtful effort and a concerted strategy, you cannot prepare for every emergency. A car accident, sudden illness, [...]
Important Facts About Medicaid Planning
When it comes to dealing with the excruciating cost of long-term care services, there is no room for error and knowledge is power. For that reason, we summarized for our readers the answers dealing with [...]
Who Needs Estate Planning?
Estate planning isn’t about how much money you have, it's about protecting what you have for you, during your lifetime and for those you love after you’re gone. It ensures what you have gets to [...]
What These 4 Famous Estate Planning Debacles Can Tell You About Proper Planning
Are you failing your family the way these 4 celebrities failed theirs? These four celebrity estate planning fiascos offer lessons about how to handle your own planning and legacies. 1. Pablo Picasso – The great [...]