Estate planning lawyers agree that there has been a fundamental shift in their clients’ estate planning concerns over the last couple of decades. There has been less worry about estate tax minimization and more concern for income tax minimizations and other valuable planning ideas. Thankfully, there are things that can…
An IRA, either in its traditional form or as a Roth, gives you the opportunity to reduce your taxes and grow your wealth for the future. The deadline for 2014 IRA contributions this year is April 15, and the maximum contribution amount is $5,500. If you are fifty years old…
Many people who are planning their estate are told by advisors to give annual gifts to children and grandchildren up to the $14,000 yearly limit. It can help you avoid the estate tax of up to forty percent if your estate exceeds the federal exemption level. This year, the exemption…
The Eighth Circuit U.S. Court of Appeals recently ruled on a case where an estate claimed that the decedent made a gift during his lifetime that actually belonged to the estate after his death. The court ruled that the gift was actually a conditional gift that had its reversionary interest…
In 2010, John Armstrong killed his eighty year old mother, Joan Armstrong, by bashing her head in with a brick and then stabbing her body repeatedly to drain the body of blood. However, despite this gruesome crime his attorney is arguing that he should still get his part of his…
Robin Williams’ widow and his children from previous marriages were in court more than eight months after his death arguing over what personal items should go to whom. His wife, Susan Schneider, conceded that the children should get the suspenders that he wore on the television show, “Mork and Mindy,”…
The Georgia Supreme Court recently ruled on what was the proper interpretation of a will that appeared to leave an interest in real property to his wife, in fee simple, but also let the same property to his son and his son’s children. The issue was between the executors of…
Most people do not believe that they can leave a legacy for their heirs because the word is usually tied to large, multi-million dollar estates. However, there are ways to leave a legacy that does not involve complicated estate planning tools or extreme amounts of wealth. Two simple moves can…
This case centered on a dispute over the administration of a family trust as well as the interpretation of trust documents. Despite appealing the ruling, the defendant in the case violated court orders and, and the plaintiff moved to dismiss the appeal based on the rules within the disentitlement doctrine.…
In a time where social media accounts are part of your estate plan, figuring out what should happen to your accounts when you die is something that must be considered. The developers at Facebook have been dealing with this issue for years. Previously, they allowed for a basic memorialized account…