by Christine | Nov 9, 2015 | Estate Planning, Estate Tax, Gift Law |
According to the IRS, there will be increases to tax exemptions for estate and lifetime gift tax exemptions in 2016. By law, every year the IRS must determine exemption limits for federal estate tax and the lifetime gift tax based on inflation. And every year, estate...
by Christine | Nov 4, 2015 | Estate Planning, Wills |
The California Supreme Court decision may make it more likely that unambiguous wills can be reformed if a mistake is deemed to have been made by the deceased. This is a great example of a failure to think outside of the box. Literally. A California man created a...
by Christine | Nov 3, 2015 | Estate Planning |
"Joint tenancy" is perhaps the most common way for two people to title their assets, particularly when they are married. But when it comes to estate planning, there are sometimes better ways that property owned by married spouses can be titled. Most married...
by Christine | Oct 28, 2015 | Estate Planning, Interfamily Loans |
By pairing intrafamily loans with trusts, wealthy families are turbocharging their estate planning strategies. One business owner hit all the right notes when he sold a $30 million family limited partnership to a trust. Tax rules currently permit illiquid shares in a...
by Christine | Oct 26, 2015 | Charitable Foundation, Estate Planning |
It makes sense to have family members at the helm of charitable family foundations. After all, who knows better what the family members intended? The IRS doesn’t see it that way. To avoid IRS scrutiny, here are some common pitfalls to keep in mind. Ensuring that the...
by Christine | Oct 19, 2015 | Estate Planning, Estates |
When it comes to battles over personal possessions in estate matters, it is rarely because those involved intend to liquidate the items for revenue. Usually, the fight is rooted in an emotional struggle and centers on long-standing hurts and resentments. That’s likely...
