by Christine | Jul 14, 2014 | Estate Planning, Estate Tax |
Over the past few years pieces have not been selling as well as expected or not selling at all. Often the amount they are appraised for, and thus the amount the IRS views them as valuing, is not close to the amount that they garner at auction. Have you ever watched...
by Christine | Jul 11, 2014 | Estate Planning, Estate Tax, Qualified Personal Residence Trust (QPRT) |
Even with its funny name, a QPRT can save you hundreds of thousands of dollars in estate taxes after your death. Let's take a closer look at what the Clintons did and whether the same strategy could help you. While QPRTs are complicated trusts, the basics of what...
by Christine | Jul 10, 2014 | Charity, Estate Plan, Heirs, Wealth Transfer |
Is inherited wealth making a comeback? Is leaving an inheritance a good or bad idea? Well, it all depends on who you ask. For example, a recently published book by French economist Thomas Piketty, “Capital in the Twenty-First Century,” argues that estates are getting...
by Christine | Jul 9, 2014 | Estate Plan, Estate Planning, Taxes |
From checking Unclaimed Property to setting up automatic bill payments, here are some simple tips each of us can use to keep our finances organized this year. Although you may not live in Missouri and it may not be "spring cleaning" season, Missouri State...
by Christine | Jul 8, 2014 | Elder Law, Medical Directives |
“What about the wife?” the social worker asked. How could we have missed this most basic and vital piece of information? It’s easier than you might think. The sister didn’t get along with the wife and apparently wasn’t moved to tell us of her existence. The social...
by Christine | Jul 7, 2014 | Estate Planning, Inherited IRAs, Trusts |
So, just to be sure we all have this right, when you name a trust as the beneficiary of your IRA, how many beneficiaries are there of the IRA? You got it – ONE – the trust. If you are electing a trust as a beneficiary to an IRA or other retirement account, it is...
by Christine | Jul 4, 2014 | Small Business |
If you have identified all your potential IP and never operated without professionally prepared documents, you will likely be confident about the value of what you worked so hard to create. And if not, now is the time to turn to your IP. Here are a few things...
by Christine | Jul 3, 2014 | Estate Planning |
Everyone knows someone who hardly speaks to his brother or sister or aunt simply because of a misunderstanding over an inheritance. Inheritance planning can be a direct mode of expression, whether of appreciation for a person or an extolling of virtues. But can these...
by Christine | Jul 2, 2014 | Estate Planning, Special Needs Children, Special Needs Planning, Special Needs Trusts |
Since for most of us, our children are our foremost priority in life, a Letter of Intent can be a crucial document. And anyone who wants to ensure special care for their children should consider including one with their estate documents; there are no real drawbacks to...
by Christine | Jul 1, 2014 | Art, Charitable Giving, Estate Planning |
The tax law makes clear that the taxpayer has the burden of substantiating the value of the property. To this end, a taxpayer must not only comply with the procedural requirements for valuation, but must also persuade the trier of fact that his claimed...
