The COVID-19 Pandemic is a wake-up call for everyone to implement an estate plan, if you do not already have one, or to review your existing estate plan. As a result of the global health crisis, it is critical for…
The COVID-19 Pandemic is a wake-up call for everyone to implement an estate plan, if you do not already have one, or to review your existing estate plan. As a result of the global health crisis, it is critical for…
We typically advise clients to think of the value of the gift before making gifts. Let's take a look at why. Value of the Gift Although the annual exclusion from Federal gift taxes is $15,000, this doesn’t mean that you…
Today, many assets exist only in an electronic form. These digital assets can result in more complexity when settling a loved one's estate. The Role of An Executor or Administrator The ordinary role of an executor or administrator is to…
Recently I received a telephone call from a client looking to sell their home. The home had been transferred to a trust years earlier and they wanted to know if they would qualify for the $250,000 (per resident owner) capital…
Kelly is 24 years old. She is on the autism spectrum and is receiving SSI. She is doing her best to be independent, but the monthly stipend is limited and it is difficult to live on her own with minimal…
Recently I received a call from a long-time client in a complete panic. She had been talking to her friend about the planning that they each implemented and the friend insisted that the client established the wrong trust for her…
It can be extremely upsetting to be told by a nursing home that your loved one must leave. Unfortunately, sometimes a nursing home will have an ulterior or nefarious reason to want to discharge a resident from the facility. Perhaps…
YES, YES, YES! If you are over the age of 18 (and chances are if you’re reading this you are), you should have a power of attorney. Unless you would rather leave it up to a judge. A power of…
The answer to the question “Are gifts made during my lifetime includible in my estate for estate tax purposes?” depends on several factors. Federal For purposes of the Federal Estate Tax, yes, any taxable gifts you make during your lifetime…