This past spring I did a set of Council on Aging seminars on the legal issues single seniors face. If you are single, and you want your children or friends to avoid the time and expense of probate after you … Continue reading
This is the time of year when I receive numerous calls from clients asking about year-end gifts they want to give to their children or other relatives and friends. Many have questions about the amount they can gift away without … Continue reading
There are a number of reasons to make lifetime gifts: to express affection, to provide financial assistance, or to support a charitable organization, to name a few. In some cases, you may even receive a tax benefit from making the … Continue reading
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On June 26, 2015, the U.S. Supreme Court issued a landmark 5-4 decision in Obergefell v. Hodges, holding that every state must license a marriage between two people of the same sex and every state must also recognize a marriage … Continue reading
By now you have already been buried with requests from charities near and far, worthy and not-so-worthy, hoping to share in your good cheer during what is inevitably called the season of Giving. If you’re like many parents (and … Continue reading
The topic of gifting assets is often an important discussion in the world of estate planning. Generally, a main point of gifting is to remove assets from the estate of the donor to avoid potential estate taxes on the asset. … Continue reading
Recently the U.S. Supreme Court issued a ruling related to whether creditors could reach an inherited IRA. Many individuals assumed that all IRAs were protected from creditors; however, the Supreme Court disagreed under federal bankruptcy law. The issue arose when … Continue reading
To follow-up on my post on November 14, 2003, regarding the responsibility of others to pay for nursing home costs, and similar posts on this blog regarding Medicaid planning, two states have recently enacted laws that allow nursing homes to … Continue reading
Here’s a summary of some of the recently released numbers affecting tax benefits in 2014: $ Annual exclusion from gift taxes (the amount an individual may give to an unlimited number of donees each year) remains at $14,000. The … Continue reading
