by Christine | Aug 31, 2012 | Gift, Inheritance, International Taxation, IRS |
What about foreign gifts and inheritances? These rules aren’t as well publicized but the stakes are huge. Have you received a gift or inheritance from a loved one living in a different country? The IRS wants to know about it, and failing to notify them could cost you....
by Christine | Aug 30, 2012 | Estate Planning, Estate Tax, Portability |
The Internal Revenue Service in June issued guidance for an estate-tax law Congress passed late in 2010. The IRS recently issued new guidance on an important estate tax issue for married couples regarding the portability of individual estate tax exemption between...
by Christine | Aug 29, 2012 | Elder Law, Estate Planning, Marriage, Wills |
Nearly 2.5 million Americans die each year, and many haven’t signed the basic documents needed to protect loved ones. But let’s say you took this important step. How often do you need to revisit your estate plan? Estate planning is not a single event, but rather a...
by Christine | Aug 28, 2012 | Elder Law, Estate Planning |
Parents, it's time to be an adult when it comes to talking to your kids about your late-in-life planning. At the core of proper planning is the understanding that there’s simply no time like the present; it’s the only time to ensure the future, to make your...
by Christine | Aug 27, 2012 | Alzheimer's, Estate Planning, Travel Trusts, Trusts |
Whether it’s trying to make sure that their children stay in touch despite geographical distances or wanting them to become acquainted with family roots in another country, some people are deciding that travel should be a part of their legacy. The inheritance you...
by Christine | Aug 24, 2012 | Estate Planning, Gift Tax, GIfting |
You can give away as much as $13,000 during the year to anyone you want—and to each of as many people as you choose—without any tax considerations. These gifts can be to family members, friends or even complete strangers. Gifts are thought to be simple. However, if...
by Christine | Aug 23, 2012 | Digital Assets, Estate Planning, Virtual Assets |
Estate planners say few, if any, of their clients consider digital assets in their wills—an oversight that can result in real-world losses to beneficiaries. And experts say the estate-planning industry itself has been slow to adopt standards for dealing with the sort...
by Christine | Aug 22, 2012 | Copyright, Estate Planning, Publicity Rights, Wills |
Beastie Boy Adam “MCA” Yauch, who died on May 4 of cancer, left instructions that his music couldn’t be used in advertising. But this wording in his will, which he added by hand, may not even be valid. If his heirs try to honor it or enforce it, they could get stuck...
by Christine | Aug 21, 2012 | Estate Planning, Trusts |
Spousal Lifetime Access Trusts (SLATs) allow you and your spouse to use your full remaining gift tax exemptions while retaining access to the gifted property in the event you need it. The more complex your goals, the more crucial the timing. This is especially true if...
by Christine | Aug 21, 2012 | 2012, 2013, Medicare, Premiums |
Medicare beneficiaries will pay the same premium for prescription drugs next year as they did this year, the U.S. Department of Health and Human Services said. Finally, a little good financial news for seniors – your 2013 Medicare premiums are projected to remain the...
