22 11, 2016

3 Reasons You Want to Avoid Probate

2017-10-15T16:08:59-04:00November 22nd, 2016|

When you pass away, your family may need to visit a probate court in order to claim their inheritance. This can happen if you own property (like a house, car, bank account, investment account, or other asset) in only your [...]

29 10, 2016

An Overview of the IRC Section 2704 Proposal

2018-02-02T22:10:44-05:00October 29th, 2016|

Section 2704 of the Internal Revenue Code (IRC) pertains to family-controlled corporations and partnerships, specifically dealing with gratuitous transfers between family members in connection with the family owned business. According to IRC, the IRS can treat some of these transfers [...]

29 10, 2016

Understanding the Irrevocable Life Insurance Trust

2018-02-02T22:10:44-05:00October 29th, 2016|

Life insurance can give great peace of mind to the insured by providing for their loved ones after their death. Life insurance benefits can help pay for your children’s college education or provide for your surviving spouse. However, life insurance [...]

29 10, 2016

Special Features of Special Needs Trusts

2018-02-02T22:10:44-05:00October 29th, 2016|

Parents wish to provide for their child with special needs after the parent passes away. However, many parents fear that the inheritance left to their child may disqualify the child from crucial government assistance programs. In order to combat this [...]

29 10, 2016

Does My Trust Need a Separate Tax ID Number?

2018-02-02T22:10:44-05:00October 29th, 2016|

The type of trust that you utilize in your estate planning will affect how the trust’s income will be taxed. This is an important consideration when creating a trust as it will determine who will be taxed for the trust [...]

29 10, 2016

Will My Will be Valid if I Move to Another State?

2018-02-02T22:10:44-05:00October 29th, 2016|

One common method of estate planning is a will. A will distributes your estate and contains certain instructions for your beneficiaries. Individuals often question whether their will will be valid if they move to another state. This is often a [...]

27 10, 2016

3 Tips for Overwhelmed Executors

2018-02-02T22:10:44-05:00October 27th, 2016|

While it is an honor to be named as an executor of a will or estate, it can also be a sobering and daunting responsibility. Being an executor (sometimes called a personal representative) requires a high level of organization, foresight, [...]