Like any other complex subject, estate planning has its share of myths and misconceptions. Understanding the top three estate planning myths will help you to create and maintain a plan that will work the way you expect it to work when it’s needed.
Read More »How to Get Disinherited
If you do not want to be disinherited by your relatives, it might be helpful to know what actions often lead to disinheritances so that you can avoid them. Normally when someone is disinherited it comes with anger and surprise. This is because often people do not think that they have done anything so […]
Read More »These States Will Usher in Changes to Their Death Taxes in 2016
In 2015, there were still 20 U.S. jurisdictions that collect a death tax at the state level: Connecticut, Delaware, District of Columbia, Hawaii, Illinois, Iowa, Kentucky, Maine, Maryland, Massachusetts, Minnesota, Nebraska, New Jersey, New York, Oregon, Pennsylvania, Rhode Island, Tennessee, Vermont, and Washington. Even if you don’t live in one of these states, the state […]
Read More »What the Recently Released 2016 IRS Inflation Adjustments Mean for You
The Internal Revenue Service has released the official inflation adjustments that will affect 2016 federal reporting for estate taxes, gift taxes, generation-skipping transfer taxes, and estate and trust income taxes. These changes will affect the way your accountant and your attorney help you plan as 2015 comes to an end.
Read More »Your Mortgage and Your Estate
You probably hope to have your mortgage paid off long before you pass away. However, in your estate plan you should plan for what will happen if you die before your mortgage is paid off.
Read More »Single Estate Planning
People who have never been married often face more difficult estate planning decisions than people with families. For married people, the basics of who gets what after they pass away is usually fairly obvious. Most married people want the bulk of their estates to go to their spouses, children and grandchildren.
Read More »Declaring Lord Lucan Completely Dead
In the United Kingdom Lord Lucan was officially declared dead by High Court order in 1999. However, that does not mean that he is considered legally dead for all purposes. In 1974 a nanny in the employ of the 7th Earl of Lucan was found murdered at the Earl’s home. His wife was found severely […]
Read More »Leaving an Intellectual Inheritance
Most people who amass wealth do not do it so that their heirs can squander it. However, that is what happens in most cases. One way to help prevent this from happening to your wealth is to leave your family with an intellectual inheritance.
Read More »What Did the Scaife Trustees Know?
The contentious battle over the trust of the late Richard Mellon Scaife has taken an interesting turn as new court filings make it appear that at least one of the three trustees may have suspected the trust was being mismanaged. Richard Mellon Scaife’s mother created a multi-million dollar trust for his benefit. When he passed […]
Read More »How Probate Can Get Expensive
There are many reasons to want to avoid probate for your estate. One of them is that probate can get very expensive. One doctor’s bill in a case in New Hampshire illustrates just how expensive. The story of Geraldine Webber’s estate has been followed closely on estate planning blogs.
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