If you want to make many people say “Ewww” and leave your tattoos behind permanently after you pass away, a new service will let you do that. Many people spend a lot of time and money on their tattoos. To them, it is a form of expression and art.
Read More »Can a Lawyer Profit From an Unethical Will He Drafted?
A recent appellate court decision in Michigan means that it is possible for attorneys to be unethical and still profit from the wills they create. Every state has a basic ethical rule for attorneys: an attorney cannot draft a will for a non-relative that includes a substantial gift for the attorney. The theory behind this […]
Read More »Children of Spanish Duchess Sue for Inheritance
It is well-known that the Duchess of Medina Sidonia did not get along with her children. That family feud led to her attempting to see that the children did not receive the family archives and legacy. The children are now suing to get it. Luisa Isabel Álvarez de Toledo could trace her heritage back […]
Read More »Jimi Hendrix’s Missing Guitar
The estate of Jimi Hendrix has seen more than its fair share of legal controversies. In yet another legal battle, the estate is suing for the return of a guitar it claims was stolen. Jimi Hendrix owned a lot of guitars, but relatively few of them made it back to his estate after he […]
Read More »Making Charitable Contributions Work
While you’re alive and have philanthropic goals, give appreciated assets held in a taxable account to charity. For charitable bequests, designate your IRA or tax-deferred employer retirement plan. Why? Suppose a hypothetical Al Cole wants to give $10,000 to charity this year.
Read More »What to Do to Reduce Estate Taxes
If you plan on leaving a sizable amount of money to your heirs, it’s understandable to be concerned about estate taxes. After all, the top Federal estate tax rate of 40% could take a nasty bite out of a multi-million dollar estate, and that’s not including any state taxes that may apply. With that in […]
Read More »Gift Giving and What to Do About IRS Form 709
Most people give gifts all the time without even thinking about the potential tax ramifications. Yet technically, whenever you give something to someone, you have to follow the gift-tax rules. Fortunately, those rules don’t require you to file a gift tax return every single time someone celebrates a birthday or other special event, but it’s important […]
Read More »Why Gifting Might Be Better than Leaving an Inheritance
Many wealthy Americans wonder whether they should give money to their heirs during their lifetimes or leave it as an inheritance. There are many aspects to the decision. However, if taxes are a concern, then it might be better to give the money now than to leave an inheritance. Some people struggle over whether […]
Read More »Gift Tax Basics
People who want to give a large amount of money to another person often have questions about how much they can give without having to pay taxes on the gift. Fortunately, the gift tax is relatively simple once you know the basics. Many parents find themselves in a position where they want to give […]
Read More »Leaving Your Friends a Few Drinks
Sometimes it is the littlest things that you do in your estate plan that create the most lasting memories. This might be the case in England where one man left his drinking buddies money to have drinks on him. Roger Brown of Swansea, England had visited the same pub for over 40 years and […]
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