Posts tagged with: "estate+planning"
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15 Mar 2010, 6:20 am
A GRAT is a tax-efficient vehicle for transferring wealth to your family, but the benefits are lost if you don’t survive the trust term. An innovative new technique, the guaranteed GRAT, is designed to eliminate this “mortality risk.” Guaranteed GRATs have considerable appeal, but they have not yet been allowed by the IRS or the courts. [read post]
16 Aug 2012, 4:28 pm
Thomas Kinkade’s estate is being contested The importance of having a Last Will and Testament or more commonly referred to as a Will, cannot be overstated. A simple Will is a document that has great importance to wealthy persons as well as those with not much to leave behind. Generally, a Will is used as [...] [read post]
6 Feb 2012, 8:46 am
Other same-sex couples who might be thinking of following suit [with Rep. Barney Frank] should understand something that needs no explaining to Frank, co-author of the Dodd-Frank Bill to regulate the banking industry: Whether marriage will be a financial win depends on a couple’s age, income, assets, debts, where they live, whether they have kids and a raft of still unresolved legal issues. [read post]
14 Oct 2011, 10:21 am
Simply defined, a charitable remainder trust allows you to transfer cash or assets to the trust — from which you may receive income for life or, if you prefer, a fixed term not to exceed 20 years. The income can be paid over your life, your spouse’s life and even the lives of your children and grandchildren. (The guidelines are outlined in IRS code section 664.) In essence, the trust takes advantage of the tax-exempt status of the nonprofit it benefits. [read post]
14 Jun 2012, 9:58 am
(Guardian Advocacy Series - Part Three) Guardian advocacy is a special form of guardianship for individuals with developmental disabilities. Like other forms of guardianship, guardian advocacy involves the court appointing one or more individuals ("guardian advocates") to help take care of the person with a developmental disability (the "ward"). Florida law does not specify when a guardian advocacy may be established. However, most of the guardian advocacies that we set up are for developmentally… [read post]
30 Nov 2010, 9:45 am
(1) Recent posts on Future of the Federal Estate Tax blog show that the fate of the federal estate tax remains uncertain: Martin Vaughan: "the new political landscape does little to dispel the uncertainty that has clouded . . . the estate tax" (11/4/2010) Laura Saunders (WSJ): it is unclear whether estate tax fix (if any) will be part of income tax compromise (11/6/2010) Kay Bell: "Now it's looking like there will be a true fight to kill the [estate] tax forever." (11/7/2010) Tom Herman (WSJ):… [read post]
10 Jun 2011, 9:00 am
Have you been named the trustee for a close friend or family member? Did you feel honored when they asked? Well, it’s okay to feel honored, as the request does show a high level of trust and respect from your friend or family member. But think twice before accepting this “honor,” especially if there are no professionals on board as co-trustees. Trustees take on a lot of legal risk, especially for any mistakes they make, and there are plenty of ways to bungle a trust [read post]
16 Dec 2009, 6:00 am
Many studies support the proposition that your pets are good for you, not only emotionally, but also physically, as well.
Dr. Deborah Wells, a psychologist from Queen's University, Belfast, said dog owners tended to have lower blood pressure and cholesterol and in general, tend to be healthier than most other individuals.
According to the website www.pethacker.com, the research of Dr. Wells suggested that dog ownership produced more positive influence than cat ownership and that dogs could aid… [read post]
29 Sep 2011, 1:37 pm
It is certainly easy for the estate planning lawyer to say that every adult needs at least a will. But if we think about it, does the single person with few assets really need an estate plan at all? In every state, if a person dies without at least a will, all of his or her property will be distributed according to state intestacy law. What if the single person is satisfied with whom the state law selects as the beneficiary of all of his or her assets? If people with assets of significantly… [read post]
10 Feb 2012, 9:06 am
Love is in the air with Valentine's Day just around the corner - wouldn't you like to start working on one of the greatest gifts you could give to the ones you love? Although the words "estate planning" bring to mind death, money, and taxes for many people, we at Cramer Law Center believe that estate planning can and should be about love. As part of our estate planning process, we offer our clients the opportunity to have a Priceless Conversation* with us at the beginning of our relationship and… [read post]
14 Jan 2010, 11:23 am
My website has moved to http://www.hamilllawoffice.com/, which will now have the most up to date information for you. If you have subscribed to this site by email, you can enter your email address at the new site to continue to get updates. Likewise, if you subscribe by RSS you can get the new RSS feed over there. Thanks for reading! P.S. If you are overwhelmed caring for your elderly parents and need help now, just click here: Yes, I'm Overwhelmed! [read post]
23 Feb 2012, 2:14 pm
No, we are not referring to the Mayan calendar-end of the world hysteria! Instead, we are referring to the end of the "Tax Relief Unemployment Insurance Reauthorization Job Creation Act", which dies on December 31, 2012. That law provides unprecedented gift tax, estate tax, and generation-skipping transfer tax exemption amounts of $5,000,000 per person. (Indexed for inflation so that it is $5,120,000 this year.) If Congress fails to act to extend this law, then these $5,000,000 exemption amounts… [read post]
15 Jan 2010, 5:37 pm
Utah Power of Attorney
Generally speaking, a power of attorney is a document that gives another person the authorization to legally act on another’s behalf. You may limit the authority you grant to another or you may grant full powers to another. A power of attorney is a very effective instrument in the estate planning process. This type of legal document can be very useful for individuals who cannot or do not want to manage certain estate affairs. Also, a power of attorney can be very beneficial… [read post]
25 Jul 2011, 1:44 pm
When same sex partners are doing estate planning, remember you also have the ability to name your partner as your Health Care Power of Attorney (HCPOA) to make medical decisions for you and be your guardian, if necessary. Call Kirk Sanders, Attorney, at (336) 724-4707 to discuss your estate planning needs. Winston-Salem, North Carolina Lawyer. www.kirksanderslaw.com [read post]
8 Mar 2012, 9:18 am
The dying wish of William Payne, one of the state's earliest settlers, created the nation's oldest charitable trust and eventually led tenants to build 167 cottages — most of them used by summer vacationers — on the land he left for the seaside city of Ipswich. The rent money has generated some $2.4 million to help fund public schools over the last 25 years. [read post]
16 Sep 2011, 11:43 am
On occasion, I receive an email or a phone call from a new attorney asking me about estate planning as a career. I think it is a wonderful focus for a practice – you can really make a positive impact on a family, you are helping others face issues they otherwise would avoid, and your compatriots in the field are for the most part generous, caring and willing to help. Unfortunately, there are also plenty of roadblocks that can be quite difficult to overcome. Let’s take a look at some of the… [read post]
22 Jul 2011, 9:00 pm
The Tax Relief Act of 2010, passed in December, opens a number of new estate planning opportunities – some of which may be short-lived, since the law expires at the end of 2012. Of course, with the change in the law comes the possibility that your current estate planning may need some updates, both to reflect the new rules and perhaps to take advantage of opportunities that were not previously available to you. [read post]
25 May 2011, 2:00 pm
As mentioned above, you might be presented with a Small Estates Affidavit which would contain certain declarations under oath about
1. The death of the resident
2. The legal heirs
3. The value of the estate
4. Other items required by the probate code section that authorizes its use [read post]
22 Jul 2011, 9:00 pm
The Tax Relief Act of 2010, passed in December, opens a number of new estate planning opportunities – some of which may be short-lived, since the law expires at the end of 2012. Of course, with the change in the law comes the possibility that your current estate planning may need some updates, both to reflect the new rules and perhaps to take advantage of opportunities that were not previously available to you. [read post]
4 Jun 2010, 2:30 pm
LegalZoom is being sued in a class action for unfair and deceptive business practices. For a summary of allegations see Dan McCue, Class Claims LegalZoom Is Unfair & Misleading, Courthouse News Service, June 1, 2010. McCue reports: A class action accuses LegalZoom, an online legal document preparation service, of unfair and deceptive business practices. . . . Katherine Webster sued as executor of the estate of Anthony Ferrantino and trustee of the Anthony J. Ferrantino Living Trust. . . . Webster… [read post]