by Christine | Jan 24, 2012 | Conservatorships, Elder Abuse, Elder Law |
Craig Reaves, past president of the National Academy of Elder Law Attorneys, practices elder law in Kansas City, Mo., and fields occasional questions from New Old Age readers. On the topic of disclosures, a reader inquired about what to do about her family of eight...
by Christine | Jan 20, 2012 | Business Succession Planning, Capital Gains |
There is a pent-up pipeline of owners who have had to put off selling in recent years because of the economy. And now that many of these companies have at least one year of profits on the books, they are more attractive to potential investors. Whether we’re coming out...
by Christine | Jan 19, 2012 | Business Succession Planning |
It has been said that seventy percent (70%) of Americans have done no estate planning. I would suspect this number may be even higher among business owners when it comes to creating an exit or succession plan for their business. If you are a small business...
by Christine | Jan 18, 2012 | Estate Planning, Qualified Personal Residence Trust (QPRT) |
Is there a way to hand off a vacation home to the next generation so that everyone still wants to spend time together there? As we head into the dreary remainder of winter, a few lucky readers and their families might just have a vacation somewhere warm in the works....
by Christine | Jan 17, 2012 | Estate Planning, Trust Administration |
Who will manage your portfolio when you’re dead? Probably not the person or company you want. Spouses and loved ones rarely follow the investment instructions left behind by the money person in the family. Your portfolio can be thought of a machine, with many moving...
by Christine | Jan 16, 2012 | Estate Tax, Gift Tax |
Schedule D is so Last Year! You were used to reporting capital gains and losses on Schedule D. Now, in most cases, use new Form 8949 to report capital gain and loss transactions. A new tax season and a new tax reporting rule for capital gains. It’s not a big change...
by Christine | Jan 13, 2012 | Caregivers & Caregiving, Estate Planning |
Nobody knows what is going to happen to the $5,000,000 exemption after 2012. It would seem that anybody, with significant net worth, who has not already used it, should seriously consider a 2012 mega gift. A family limited partnership allows the exclusion...
by Christine | Jan 12, 2012 | Charitable Giving |
We have continued and adjusted our family giving rituals over the years, and I have learned a lot about how to do it right. Financial skill is far from an inherited ability: it is learned. So, too, with charity. The drive to give (and the know-how to do so well) is...
by Christine | Jan 11, 2012 | Elder Law, Estate Planning, Estate Tax |
“Most of the states are still in pretty poor shape, and if the economy doesn’t improve you might see more action by state legislatures seeking other sources of revenue,” says James Walschlager, an analyst with tax publisher CCH, a Wolters Kluwer business. Not all...
by Christine | Jan 10, 2012 | Elder Law, Estate Planning, Limited Conservatorships, Medi-Cal Long Term Care, Special Needs Trusts, Supplemental Security Income |
I just read a very interesting article in "The Voice" which is the newsletter of The Special Needs Alliance regarding using pooled trusts in estate planning written by a friend and fellow collegue, Stuart D. Zimring, an excellent...
