Will We Have to Pay Gift Taxes if We Give a Rental Property to Our Son?
How should we best do this, so that we avoid future gift taxes?
What is a Special Needs Trust?
Special needs lawyers can work with clients to set up individualized special needs trusts.
What Estate Planning Documents Should I Have for My Child Who’s at College?
Here are a few documents that families will need, if parents are to remain involved in the medical and financial affairs of a child who has reached adulthood.
How Do I Incorporate My Business into My Estate Planning?
Running and owning a business is just like raising a child: Both are investments in the future, and both require a lot of time, resources and effort to raise successfully. One can argue that you would treat your business like you’d treat a child; you’d want it to succeed even after you’ve passed on or retired.
Some Estate Planning Actions for 2020
This time of the year is a great time to revisit your estate plan, so you can ensure your legacy is protected for years to come.
How Can I Upgrade My Estate Plan?
Everyone’s heard the stories of celebrities who died without a proper estate plan in place. It’s been a hot topic in the last few years with Prince and Aretha Franklin serving as unfortunate faces of the phenomenon. However, it’s not just freewheeling entertainers.
What Does Portability Mean, and How Do I Use It?
Portability first emerged as an estate planning strategy in 2011 and 2012 from the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010. It was made permanent by the American Taxpayer Relief Act of 2012.
What Does an Estate Planning Attorney Really Do?
Estate planning is a systematic process, which involves getting your personal and financial goods for the time, if you pass away or become mentally ill. It is also known as last will, and almost everyone does this planning for their family.
Are You Forgetting this Estate Planning Document?
Estate planning is a complex world for most Americans. For many, the process can seem overwhelming and expensive. For others, it is uncomfortable to confront one’s mortality and requires tough decision making. However, regardless of one’s feeling on estate planning, there is one estate planning document that all Americans should have: A Health Care Directive.
How Do I Plan for My Incapacity?
What would happen if you were mentally or physically unable to take care of yourself or your day-to-day affairs? You might not be able to make sound decisions about your health or finances. You could lose the ability to pay bills, write checks, make deposits, sell assets, or otherwise conduct your affairs. Unless you’re prepared, incapacity could devastate your family, exhaust your savings and undermine your financial, tax and estate planning strategies.