Posts tagged with: "estate+planning"
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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]
30 Nov 2010, 9:45 am by Hani Sarji
(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]
14 Jan 2010, 11:23 am by Leanna Hamill
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]
15 Jan 2010, 5:37 pm by Salcido
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]
10 Oct 2013, 11:47 am by Jeffrey A. Cramer
Florida attorneys have long been prohibited by our ethical rules from soliciting or accepting gifts from clients, including drafting a will or trust that names the attorney (or his close relative) as a beneficiary.  The concern is that an attorney who is asking for or receiving a gift from a client has a personal stake and thus will not be able to properly advise the client regarding the transaction (what we call a “conflict of interest”).  There is also the possibility that an… [read post]
10 Oct 2013, 11:47 am by Jeffrey A. Cramer
Florida attorneys have long been prohibited by our ethical rules from soliciting or accepting gifts from clients, including drafting a will or trust that names the attorney (or his close relative) as a beneficiary.  The concern is that an attorney who is asking for or receiving a gift from a client has a personal stake and thus will not be able to properly advise the client regarding the transaction (what we call a “conflict of interest”).  There is also the possibility that an… [read post]
Usually not too long after a celebrity death comes the news of who gets the estate.  Frequently, these battles become the fodder of entertainment news for months as family members, business associates and countless others jockey for position for assets, guardianship of children and numerous other issues.  But when a multi-million dollar estate hasn’t been properly planned for life after death, the first “heir” to collect may be the estate tax office. This appears to be… [read post]
17 Nov 2010, 11:59 am by Hani Sarji
Image via Wikipedia The IRS published the applicable federal rates for December 2010 in Rev. Rul. 2010-29: Section 7520 Interest Rate: 1.8% 120% of the Applicable Federal Midterm Rate: 1.83% These rates are even lower than those for November.  The Section 7520 Interest Rate dropped from 2.0% for October and November.  The 120% of the Applicable Federal Midterm Rate dropped from 1.91% for November. Talk to your trusted estate planning advisor about the following estate planning strategies, which… [read post]
Life insurance really isn't as frightening or complex as it seems. It's actually a fantastically useful and flexible estate-planning tool that can provide income-tax-free security for your loved ones. It can also provide liquidity to pay estate taxes, especially if your estate largely consists of assets such as real estate or a closely held business that you may be reluctant to sell to raise cash. (If the policy is owned by an irrevocable trust, the insurance payout can avoid estate taxes too.) [read post]
10 Feb 2012, 9:06 am by Jeffrey A. Cramer
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]
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]
25 May 2011, 2:00 pm by webreputationbuilders
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]
16 Dec 2009, 6:00 am by Danny Meek
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]
13 Dec 2013, 4:00 am by Steven Frye
The Canada Revenue Agency (“CRA”) was recently asked to provide a ruling on the legal disposition of capital property in a specific fact situation. The ruling provided a cautionary reminder to trustees and executors when determining ownership of capital property for tax purposes. [read post]
29 Sep 2011, 1:37 pm by Scott
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]
11 Dec 2012, 4:01 pm by Randy Fisher
What’s the best way to create wealth?  If I had a definitive answer, you can bet your margarita that I’d be typing this from a beach somewhere. From where I’m actually typing this — my Annapolis business law office — … Continue reading → [read post]
25 Jul 2011, 1:44 pm by kirksanderslaw
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]
4 Jun 2010, 2:30 pm by Hani Sarji
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]
16 Sep 2011, 11:43 am by Scott
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]
8 Apr 2013, 11:22 am by mjsoss
The President's new budget proposal would cap multimillion-dollar tax-favored retirement accounts. The budget plan, to be unveiled April 10, would prohibit taxpayers from accumulating more than $3 million in an individual retirement account.  The argument is that “[u]nder current rules, some wealthy individuals are able to accumulate many millions of dollars in these accounts, substantially more than is needed to fund reasonable levels of retirement saving.” IRAs have evolved… [read post]