As another tax season closes, it’s a good time to review the list of “Dirty Dozen” tax schemes published by the Internal Revenue Service for the year. Many of these schemes peak during tax time and … [Read more...] about The IRS’ Annual Warning: The 2023 Dirty Dozen
The Joy in Joint Trusts
Joint trusts offer clients many benefits both during life and after death. Those with joint trusts need to understand the limitations inherent in the trust and the importance of seeking qualified … [Read more...] about The Joy in Joint Trusts
How Tax and Non-Tax Considerations Impact Estate Planning – Part I
Estate planning often focuses on taxes at the federal level and often overlooks issues that occur at the state level. For anyone desiring to undertake comprehensive estate planning, it’s important to … [Read more...] about How Tax and Non-Tax Considerations Impact Estate Planning – Part I
What Does the Respect for Marriage Act Mean for Estate Planning?
When the Supreme Court issued its opinion in Dobbs v. Jackson Women’s Health Organization, 576 U.S. 644 (2015), Estate Planning practitioners took note. Justice Clarence Thomas, in his concurring … [Read more...] about What Does the Respect for Marriage Act Mean for Estate Planning?
What Bruce Willis Can Teach Us About Incapacity Planning
When Bruce Willis announced his retirement from acting because of aphasia, it sent shockwaves through Hollywood and across the country. Just a few weeks ago, Bruce’s family indicated that the disease … [Read more...] about What Bruce Willis Can Teach Us About Incapacity Planning
What’s in President Biden’s Revenue Proposals?
Retirement plans offer a terrific opportunity for taxpayers to save for their retirement in a tax-deferred way. While several types of these plans exist, most individuals have some level of … [Read more...] about What’s in President Biden’s Revenue Proposals?
The Lessons from Lisa Marie
Regular readers of this blog often see articles regarding the latest celebrity whose death created a mess because their Estate Plan failed to properly protect the celebrity’s family and loved ones. It … [Read more...] about The Lessons from Lisa Marie
What Happens When You Don’t Trust Your Trustee – Part I
Trusts have become ubiquitous parts of estate plans. Many Estate Plans use revocable trusts as the foundation for the plan while others include irrevocable trusts. Regardless of the planning reason, … [Read more...] about What Happens When You Don’t Trust Your Trustee – Part I
Now That Mid-Terms Are Over, Let’s Talk Taxes
As inflation continues to rise, more and more individuals seek ways to stretch their dollar further. One of the many factors to consider is their overall tax burden. Sometimes, simply moving to … [Read more...] about Now That Mid-Terms Are Over, Let’s Talk Taxes
Don’t Be a Turkey – Take Advantage of Your Annual Per Donee Exclusion Amount
The holidays are a great time to review the past year and make plans for the upcoming one. Part of those plans should be reviewing your Estate Plan and considering what, if any, steps you should take … [Read more...] about Don’t Be a Turkey – Take Advantage of Your Annual Per Donee Exclusion Amount