The biggest trend is “I want to protect my child’s inheritance.” Can you imagine leaving your hard earned estate to a child when you die and they get into a messy divorce, lawsuit or they just spend it unwisely and lose everything? What a waste. What if you could leave… Read More
posted on September 12, 2013
If I have a Will does it means I will avoid Probate?
No, a Will by its very nature implies Probate. Probate is a procedure to administer the estate of a decedent. Even if you do not have a Will, your estate will be administered according to the laws of your home state. This procedure for estates that do not have a… Read More
posted on September 5, 2013
Estate Planning Basics
ESTATE PLANNING BASICS Death is inevitable. There are some steps and planning we should take to put our affairs in order. This can be accomplished through proper and effective estate planning. Estate Planning provides peace of mind by knowing that your desires are recorded and your property will be disposed of as… Read More
posted on August 13, 2013
What is a Resulting Trust
By Wagner Sidlofsky LLP “I don’t care who paid for the property – it’s in my name.” But that’s the middle of the story – let’s start at the beginning.Situations arise where legal title may be in one person’s name , but the courts presume there was a decision to create… Read More
posted on July 26, 2013
Does the Estate Tax Really Hurt Small Businesses and Farmers?
Estate tax critics very often say the estate tax hurts farms and family businesses. I certainly don’t want to enter the tax vs. limited tax debate so I will offer no opinion here but the dialogue should be with the facts, not statements that are repeated so often they get… Read More
posted on July 19, 2013
Benefits of receiving inheritance in trust over outright distribution
Leaving an inheritance to a beneficiary outright makes the money subject to the person’s creditors, divorcing spouses and of course their own lack of maturity with the funds. By leaving the inheritance in trust, these concerns can be addressed. While the funds for this beneficiary are held in trust for… Read More
posted on July 10, 2013
What is an IRA Trust?
A qualified IRA trust allows your individual retirement funds to “flow” through a special Trust to assure monies are paid to beneficiaries over their respective lifetimes. This trust is designed so that the beneficiary is entitled to withdraw from the trust only the minimum required distribution under the Internal Revenue… Read More
posted on July 5, 2013
The Supreme Court’s Decision Will Change Estate Planning For Same-Sex Spouses
The U.S. Supreme Court’s ruling will change estate planning for affluent same-sex married couples. United States v.Windsor, the case in the news last week, involved an important tax break for married couples. The marital deduction allows spouses to transfer as much as they want to each other, either during life… Read More
posted on February 22, 2013
Memory Issues and Your Finances
A USA Today article on February 13, 2013 dealt with this very issue. See “Memory Issues Can Wreck Your Finances If You Don’t Plan Ahead.” Individuals with MCI, mild cognitive impairment, affecting 20% of Americans over the age of 70, may leave the individual vulnerable to financial abuse or financial… Read More
posted on February 12, 2013
Current Estate Tax
Hello: You have probably heard about estate taxes, also called “death taxes.” You may be interested to learn that the IRS counts about everything yo own in figuring how he can get a share of it. The bad news is that once you have a taxable estate, the government wants… Read More
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