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Tax Time Can Also Be Estate Planning Time

February 23rd, 2016

One of the best times to review your estate plan, or to get one if you do not already have one, is when you are doing your yearly taxes. Even if you have the assistance of an accountant, filing your income tax return can be a time-consuming and frust… Read More

Tags: estate planning, trust, will

Estate Planning Versus a Divorce Decree

January 26th, 2016

Sometimes when people are upset about specific terms of their divorce they will attempt to use estate planning to possibly get around those terms. That is usually not a good idea. When you think of all the possible things that could be ordered in a d… Read More

Tags: Divorce, estate planning, Life Insurance

Living Trust Tips

January 25th, 2016

People looking to avoid probate are often advised to create living trusts. The trusts can be excellent instruments and it is important to know what assets to put into them and what assets to leave out. Probate avoidance is an important goal in many e… Read More

Tags: Beneficiary Designations, estate planning, Living Trusts, probate

States Continue to Ease up on Estate Taxes

January 21st, 2016

State governments are rightfully concerned that wealthy elderly citizens will move to other states that have more favorable estate tax laws. In a clear trend this is causing more and more states to do away with or decrease their estate taxes. State g… Read More

Family Sues to Reverse Brain Dead Declaration

January 12th, 2016

Issues concerning when a person can be taken off life support did not go away when the Terry Schiavo case stopped appearing in the headlines. A current lawsuit in California highlights that the issue is still very much alive. In December of 2013, the… Read More

Tags: Advanced Health Care Directive, Living Will

The Real Tax to Worry About

January 11th, 2016

The federal estate tax might get most of the political headlines, but the truth is that it affects a relatively very small number of Americans. Of far more concern for most Americans is how the federal capital gains tax will impact their estates. If… Read More

Tags: Capital Gains Tax, estate planning, Estate Tax

Charitable IRA Tax Break Made Permanent

January 7th, 2016

The 2006 IRA charitable rollover exclusion was a popular tax break for wealthy elderly people and the charities to which they donate. It has been made permanent. Seniors trying to spend down the size of an estate for estate tax purposes often find it… Read More

Tags: Charitable Rollover Exclusion, Charity, Donations, estate plan, Estate Tax, IRA, Philanthropic Giving, Tax Penalties

Tax Consequences of Inheriting an Annuity

January 6th, 2016

If you inherit a non-qualified annuity, then before you decide what to do it is important to understand the different options and tax implications. Annuities have become an extremely popular tool in people's retirement plans. Like any other asse… Read More

Tags: Annuity, Asset, Estate Attorney, Heirs, Income Tax, Inheritance, Retirement Plan

New IRS Policy on Identity Theft

December 7th, 2015

Identity thieves do not content themselves with just taking out credit cards in their victims' names. They also often file fraudulent tax returns for refund checks. A new IRS policy should help victims figure out what happened. Imagine receiving… Read More

Categories: Current Affairs, Taxes, Weblogs

Tags: Executor, Fraud, Guardian, IRS, Tax

One More Scary Halloween Story!

November 13th, 2015

A Halloween riddle for you: What's scarier than ghosts and goblins to Americans 50 and older? Answer: Their finances. That's the upshot of the latest Country Financial Security Index, and two other surveys I've seen lately back it up.… Read More

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