Estate tax exclusion “portability” is a nice idea, but dangerous if you don’t understand its implications.
Posts Categorized: Trustees
Being named as a Trustee is a great honor. It is an even greater responsibility. There are some things you should think about before you accept the role.
Most people think estate planning is all about avoiding probate and taxes so they can maximize what they leave their loved ones. There is a far more important reason to “put your house in order.”
There are some basic mistakes you really don’t want to make when it comes to estate planning. This article highlights some of the biggest boo boos.
MYFOXNY.COM – Authorities in Jersey City have arrested a home healthcare worker and charged her with abusing an elderly patient. The arrest came after the family of the elderly woman suspected something was wrong after finding bruises on her. They recorded video of the alleged abuse captured via a webcam and Skype. A family member… Read More »
While real estate can be easily transferred or mortgaged, it is important to seek advice from a qualified professional to adequately protect your property and maintain the integrity of your estate plan. Here are five points to ponder.
America’s vulnerable, graying population, and the concentration of wealth among older adults, has created a massive opportunity for fraud. Hard statistics are not available, but experts suspect that perhaps half a million elderly adults are ripped off by family members, lawyers and accountants every year, potentially taking $2.6 billion from infirm older Americans. The crime is known as elder financial abuse.
You can do your estate planning documents yourself, but by saving a few bucks now, you may cost your loved ones a lot more later. Here is an excerpt from, and link to, an interesting article by Deborah L. Jacobs.
This is an excerpt from a clever piece written by an obvious Boston fan named Jim Moniz, who is president and CEO of Northeast Wealth Management, a Braintree, MA-based company that focuses on the needs of high-net-worth individuals and professionals. It underlines the importance of being aware of what Congress is doing (or not doing) regarding the estate tax–the tax on the privilege of owning stuff when you die–and how that might affect you and your loved ones.
A scenario that plays out far too often: a parent’s intended beneficiaries lose most of their inheritance to the IRS, court costs, and lawyers. This recent Tax Court case provides a cautionary tale about the perils of incomplete planning.