By John Even | Published December 28, 2018 | Posted in Estate Planning |
Which Distribution Plan is Best for Your Trust? So you’ve decided that a trust is the best estate planning vehicle for you due to its many benefits, one of which is flexibility with regard to your distribution provisions, and now you are trying to decide on which distribution plan is best for you and your Read More
Read MoreAnother way of saying this is: How often do you need to have your revocable living trust reviewed after you set it up? Alternatively, what are some triggering events that might cause you to have your trust reviewed? In general, the answer varies depending on the complexity of your estate and other factors in your Read More
Read MoreFor many of my clients who own businesses, their business is the largest asset in their estate. As a result, it is critical that this asset is properly transferred after their death. Several clients have asked me if their business or their interest in a business passes through probate if they die. The short answer Read More
Read MoreBy now, everyone has heard about the New Tax Act and how it will impact your family’s income taxes in 2018. However, the New Tax Act also made significant changes to the federal estate tax laws. Most importantly, the so-called single exclusion amount (which I usually refer to as the estate tax exemption amount) increased Read More
Read MoreSo, you just found out that you are the trustee of your relative’s trust. What do you do? This blog gives an overview of the steps that a trustee needs to take to administer a trust after the settlor (i.e., creator of the trust) passes away. In general, a trust administration is the orderly administration Read More
Read MoreIn the last 20 years, the concept of “digital assets” has emerged as our world has been taken over by the likes of web domains, e-mails, Facebook, and Twitter. The term “digital assets” can include many different things: your ownership and intellectual property rights in social media accounts, your access to online bill payments or Read More
Read MoreLet me paint the picture. You are in your 60’s or early 70’s after having working the last 20-30 years building up a successful family business and you are trying to figure out a way to slow down and enjoy some of the fruits of your labor. Some of your family members work in the Read More
Read MoreRecently, my son graduated from high school, and, after a few trips with his friends this summer, he will be heading off to college in the fall. In addition to getting him all up to date with his dental work and eyeglass prescription and purchasing some new clothes and other items for his college dorm Read More
Read MoreAfter a loved one dies, family members often ask: “How long does probate take?” In general, provided that there are no difficult parties, no difficult assets, and no other complications, a probate case will take approximately 6 to 12 months to administer from start to finish. After the appointment of the personal representative, there are Read More
Read MoreI hope that you and your family have a wonderful Christmas holiday! Before the end of the year, there are two charitable giving opportunities that I wanted to bring to your attention from a tax perspective. First, if you have an IRA and you are interested in giving some of the IRA to charity this Read More
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