As we enter a new year, it is time to remind folks of there is a sunset provision that may dramatically change the estate tax. This is because while the Tax Cuts and Jobs Act of 2017 doubled the gift and estate tax exemption, unless Congress acts before January 1, 2026, this exemption is scheduled …
Continue reading “Estate Tax Exemption Change is Coming (Maybe)”
When assisting my clients with their estate planning or transferring their loved one’s assets after death, I am occasionally asked about surviving spouses veterans benefits. We have a wonderful gentleman here in Walker County that helps families with VA benefits, Robert “Bob” Kane, Jr., County Veterans Services Officer. Mr. Kane provided me with information for …
Occasionally I run into situations between unmarried individuals owning property together. This can be a result of two or more people purchasing property together, but more often it is a result of two or more people inheriting property from a deceased individual. Attorneys often face co-ownership issues when advising on inheritance and probate avoidance. Inheritance …
The Estate Tax is Changing, Again As we approach the end of the year, it is time to remind folks of the Biden Administration’s Sensible Taxation and Equity Promotion (STEP) Act. This makes a significant change to the Federal Estate Tax set to go in place January 1, 2026. Which means, the Estate Tax is …
Continue reading “Don’t Look Now, but the Estate Tax is Changing, Again”
When Someone You Love Dies In my office, we are long on both Probate and Life Experience. Having focused my law practice on estate planning and probate, I have helped thousands with transferring their assets after a loved one passes (probate) and likewise I’ve guided thousands with drafting their estate planning documents to avoid issues …
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Think of your estate plan as a living entity that needs to evolve with the changes in your life. Various life events such as the birth of a child, children growing up, changes in the family dynamics, fluctuations in your investment portfolio, career shifts, health changes, or relocation can all impact your estate plan necessitating …
It’s never too early to start preparing for the inevitable – that one day your parents will become dependent on your support. And one of the toughest realities that you will need to face is financing your parents’ care in their old age. Here’s a short list of strategies to help your family shore …
Estate planning can seem fairly simple when you have children to leave your estate to. But what if you don’t have obvious beneficiaries? These days, many singles are planning to marry and have children much later in life. This doesn’t mean that estate planning can be delayed. It is just as important for singles with …
Continue reading “Importance of Estate Planning When There are No Children”
The information in this column is not intended as legal advice but to provide a smile during this holiday season. Any readers with a legal problem should lighten up this week, life is precious, so enjoy your family and friends now and join the real world after January 1, 2024. It is time again for …
Continue reading “THE NIGHT BEFORE CHRISTMAS, LEGALLY SPEAKING”
Inheriting wealth is a major event that, if not managed correctly, can lead to financial missteps and potential loss. Individuals who receive an inheritance often face challenges in managing their newfound wealth due to a lack of experience, existing debt issues, or tax complications. However, proactive estate planning can help mitigate these problems, ensuring …
