When preparing estate planning documents, certain beneficiaries may need more protection than others. One particular class of beneficiaries that needs to be intentionally considered is minor children.
Getting a step-up in basis when each spouse dies can be a big tax advantage. It has not been available to those who live in common-law states. However, it may now be–through a community property trust.
Chances are, your home is full to the brim with cherished memories of family and friends. But, as you get older, you may start wondering what exactly will happen to your home when you pass away. Fortunately, a life estate can take away the uncertainty of this thought by legally assigning an heir to receive your property without interference from court proceedings.
The Estate of The Union Season 2, Episode 3 – Mis-Titled Assets Can Wreck Your Planning is out now! Almost everyone thinks that once they have
Traditional, very simple estate planning may not be sufficient to accomplish estate planning goals in many blended family situations.
Even Consumer Reports suggests working with an experienced estate planning attorney to make sure documents are correctly prepared.
The intent of the laws and regulations is to allow the community spouse to have enough income and assets, so that he or she has enough income and assets to continue to live at home, whether that be a home, an apartment, or other living place.
No one enters a relationship — be it personal or business — thinking it will fail. However, what happens when it does?
The way in which assets are titled can be vital.
The IRS issued a revenue procedure (Rev. Proc. 2022-32) Friday that allows estates to elect ‘portability’ of a deceased spousal unused exclusion (DSUE) amount as much as five years after the decedent’s date of death.
