11 07, 2017

Isn’t There Already A Law That Leaves Everything To My Spouse And Kids?

2019-06-02T05:58:16-04:00July 11th, 2017|

Many people think that if they die while they are married, everything they own automatically goes to their spouse or children. They’re actually thinking of state rules that apply if someone dies without leaving a will. In legal jargon, this [...]

6 06, 2017

How to Protect Your Child’s Inheritance from His or Her Untrustworthy Spouse

2019-06-02T06:02:13-04:00June 6th, 2017|

Parents who develop an estate plan often do so to provide for their heirs financially. Many want to make sure hard-earned assets, family heirlooms, or closely held businesses stay within the family. Indeed, a common question is what cost effective [...]

21 03, 2017

How You Can Build an Estate Plan that Includes Asset Protection

2019-06-02T06:09:56-04:00March 21st, 2017|

Much of estate planning has to do with the way a person’s assets will be distributed upon their death. But that’s only the tip of the iceberg. From smart incapacity planning to diligent probate avoidance, there is a lot that [...]

3 03, 2017

Is It Better to Use Joint Ownership or a Trust to Pass Down a Home?

2017-03-03T17:22:25-05:00March 3rd, 2017|

When leaving a home to your children, you can avoid probate by using either joint ownership or a revocable trust, but which is the better method? If you add your child as a joint tenant on your house, you will [...]

25 12, 2016

Things to Discuss with Your Estate Planning Attorney

2018-02-02T22:10:43-05:00December 25th, 2016|

Why an estate plan is more than just a will. A will is a good start, but there’s much more to estate planning that drafting and signing a will. A will won’t necessarily preserve your assets for your loved ones [...]

16 12, 2016

How to Pass Your Home to Your Children Tax-Free

2018-02-02T22:10:43-05:00December 16th, 2016|

Giving your house to your children can have tax consequences, but there are ways to accomplish it tax-free. The best method to use will depend on your individual circumstances and needs.  Leave the house in your will  The simplest way [...]

15 12, 2016

IRS Issues Long-Term Care Premium Deductibility Limits for 2017

2018-02-02T22:10:44-05:00December 15th, 2016|

The Internal Revenue Service (IRS) is increasing the amount taxpayers can deduct from their 2017 income as a result of buying long-term care insurance. Premiums for "qualified" long-term care insurance policies (see explanation below) are tax deductible to the extent [...]

29 10, 2016

An Overview of the IRC Section 2704 Proposal

2018-02-02T22:10:44-05:00October 29th, 2016|

Section 2704 of the Internal Revenue Code (IRC) pertains to family-controlled corporations and partnerships, specifically dealing with gratuitous transfers between family members in connection with the family owned business. According to IRC, the IRS can treat some of these transfers [...]

29 10, 2016

Understanding the Irrevocable Life Insurance Trust

2018-02-02T22:10:44-05:00October 29th, 2016|

Life insurance can give great peace of mind to the insured by providing for their loved ones after their death. Life insurance benefits can help pay for your children’s college education or provide for your surviving spouse. However, life insurance [...]