Estate And Tax Planning Law Firm
We are still talking about -- or, as a 12-year-old niece would say, still talking about -- sales tax and its impact on estate planning. We admit that 12-year-olds may not be the only ones that were hoping for more drama here -- trust us, if we could think of a way to...
Are there more taxes in retirement that are dreamt of in your estate plan? When we talk about planning for our golden years, we talk about sources of income and how to plan for emergencies. Many of us have sat through difficult dinner table conversations about...
You've probably already heard about the benefits of a trust -- how it's much like a will except for the fact that your loved ones don't have to navigate the probate process when you pass away. You probably also know that a trust may potentially save your heirs a...
In our previous post, we started discussing how even though the execution of a trust grants its creator certain advantages -- minimization of tax liability, control of asset distribution, privacy -- this final element of secrecy wasn't always guaranteed.We also...
As we've discussed on our blog before, there are multiple reasons why a trust might prove to be the single most effective instrument to accomplish your estate planning objectives.To recap, a trust can not only ensure that your assets are distributed according to your...
In many circumstances, living trusts can help to avoid costly probate and reduce or eliminate the impact of federal estate taxes on your assets. A living trust can also replace the expensive, time consuming and restrictive process of appointing a conservator to handle...
We are talking about the Taxpayer Advocate Service's recommendations to simplify reporting under the Foreign Account Tax Compliance Act. The TAS is an independent agency -- helmed by the National Taxpayer Advocate -- that monitors the activities of the IRS. The...
Since the implementation of reporting rules under the Foreign Account Tax Compliance Act, U.S. citizens living in foreign countries have found that some foreign banks are less than enthusiastic about taking them on as customers. It goes further than just refusing to...
The late Robin Williams had an estate plan in place when he died last August, but it seems his plan was not clearly laid out enough to prevent a legal dispute after his death.Susan Schneider Williams, the third wife of the late actor, filed a petition back in December...
When former President Ronald Reagan died in 2004, the world was, for the most part, aware that he had suffered from Alzheimer's disease for years. Officially, his memory started to fail in the 1990s, long after he had left office. Unofficially -- at the time, at least...
