As we begin our way through 2022, understanding various federal tax issues can help make the most of your estate planning this year. Because the federal legislature might pass regulations that alter these laws sometime during 2022, it’s important to understand critical federal tax laws you might want to utilize…
In times of economic uncertainty, estate plans can benefit substantially from flexibility. As the country both continues to recover from the COVID-19 pandemic as well as face the challenges brought on by new strains of COVID-19, it’s a good idea to consider how to make your estate plan flexible. Not…
The Status of Estate and Gift Taxes in 2022 In 2021, Congress, as well as the Executive branch, proposed revisions to the tax code that if passed would have substantially changed estate planning. If these changes had been made, some proposals would have been put on the side, while the…
When it comes to planning for how your assets will be managed after you pass away, people often make adequate arrangements in their estate plan in regards to their finances as well as physical property. In this era, when an increasingly large amount of information that people have is…
Many myths exist about the rights and responsibilities of U.S. citizens. For example, if you are not a U.S. citizen but are married to a U.S. citizen and have permanent resident status, you might have heard that if your spouse passes away without an adequate estate plan you will be…
As we approach the end of 2021, you should remember to consider and approach many aspects of estate planning. There are also several considerations given potential legislative changes. You should make sure to review your end-of-year estate planning concerns now instead of waiting. This article reviews some of the important…
The Treasury Department recently published its Priority Guidance Plan, which addresses areas like estate, trusts, and gifts. These items were described as a top priority by the department. The department also expressed the desire to establish final regulations that would enforce user fees associated with closing letters for estate tax…
Family law addresses the rights of family members including spouses during marriages as well as after divorce. When one spouse passes away, however, complex estate planning issues can arise. In the recent Third District case of In Estate of Wall, a federal district court held that title presumption had…
Estate planning conversations often give off the impression that everyone is elderly and has multiple children. In reality, however, this is not true and people who do not fit this description require estate planning assistance at least as much as people who fall into more conventional models. For example, unmarried…
After a divorce, it’s understandable that you’re tired of sifting through legal documents. If you do not take the actions now to revise your estate plan in light of your divorce, you could end up facing undesirable estate planning results. As a result, you should at least consider gathering your…