Tag Archives: Estate Planning

The Internet is changing how people mourn. Is it possible that in the future we will be able to plan our own digital funerals? If you are a frequent user of Facebook or Twitter, then you have undoubtedly noticed that whenever a well-liked celebrity passes away the social media sites are flooded with an outpouring […]

When you don’t know where else to turn, look to the facts. Cold, hard, unflinching facts and statistics. As long as you understand the details behind the statistics and agree with the methods used, they can give you great insight into a situation. So today, we’re delving into some estate planning statistics that reveal how Americans […]

If your spouse passed away in the last three years, the IRS is offering a potential estate tax break for your estate. However, you need to act quickly if you want to take advantage of it. One of the newer and better provisions in tax law is that you can take advantage of any portion […]

Probate: it’s costly, lengthy, taxing, and, thankfully, avoidable. Although no one likes to think about their death, it’s important that you consider what will someday happen to your assets before that fateful day occurs. The probate procedure, in which debts are paid, paperwork is filed, and assets are distributed to beneficiaries, is an important part of […]

An estate plan is not a one-time, in-and-out procedure. The documents that make up your estate plan will significantly impact your life, your family, and your property after your death. To ensure everything occurs as you hope, it is vital you take the time to periodically review and update your estate plan. If you aren’t sure when to […]

As you begin navigating the waters of estate planning, you will hear the term probate mentioned frequently. In fact, you may even be warned of it, as though it’s something dreadful that should be avoided at all costs. Work hard, plan ahead, take this route, not that route, all so that you can avoid probate. […]

The Internal Revenue Code, Title 26, Section 1031 states the following: “No gain or loss shall be recognized on the exchange of property held for productive use in a trade or business or for investment if such property is exchanged solely for property of like kind which is to be held either for productive use […]

The season of giving is right around the corner, making this a very apt time to talk about the legal stipulations of giving gifts. Although we don’t want to scare you away from giving generously, it’s important to realize that some gifts are taxed and that you (the donor) must pay that gift tax. Gift […]

Typically, when you sell business or investment real property, you’re required to pay capital gains tax on the sale. Taxes are a fact of life, but wouldn’t you prefer to defer paying your taxes if you could? 1031 exchanges allow you to do just that. So what is a 1031 exchange? Also known as a tax-deferred […]

When a Grantor passes away, the Trustee of the estate must step into action. There are numerous tasks to complete, including collecting assets, paying taxes and bills, filing accountings, managing money for beneficiaries, and more. One of the very first things the Trustee must do is notify the beneficiaries, describing the situation (the Grantor’s death, the state […]