The fiscal cliff was avoided by 11th-hour decisions at the nation's capital, but the American Tax Relief Act of 2012 did not eliminate all unsavory tax requirements. The most recent changes to tax law are designed to be permanent, eliminating the potential for unexpected alterations that could alter estate valuation and planning. Experts say the new tax plan should be considered as a kind of cliff tax. People who Read More
DON’T FORGET YOUR DIGITAL ASSETS DURING ESTATE PLANNING
As the modern world continues to evolve into an increasingly digital age, estate planning professionals report that digital and virtual assets are becoming important considerations. The world is becoming more and more digital, with books, music and even photographs maintaining a strong online presence. Few people maintain hard copies of those items, which can make estate administration difficult for those who do not Read More
DAUGHTER OF CONVICTED FELON POISED TO INHERIT FLORIDA ESTATE
In a highly publicized case, the stepdaughter of a Florida millionaire stands to inherit his estate, despite the fact that the woman's biological mother was convicted of killing her stepfather in 2009. Many observers believe that the woman is set to win her probate litigation claim involving her stepfather's estate, which is estimated at $4.2 million. She would receive $150,000, while her two adult sons would split Read More
ESTATE ADMINISTRATION CHANGES AFTER FINANCIAL CLIFF
As the American public waited on the plunge of the fiscal cliff, financial advisers found themselves in an even less enviable position. Many worried that their clients would be unable to use previously enacted tax exemptions as part of their comprehensive estate administration plans. Luckily, the nation did not fall off the financial marketplace, and financial advisers have great news for their clients: The $5 Read More
RESOLUTIONS FOR END-OF-LIFE PLANNING
New Years has arrived and with it the desire to make resolutions. Some choose to try to lose weight, be nicer to their friends or earn more money. An important resolution for those withestate administration plans, though, might be to update your living will and other important documents. As we reach the end of life, our resolutions evolve to consider our family members and heirs, who may face serious difficulties Read More
KINKADE ESTATE DISPUTE SETTLED IN SECRET
The widow and girlfriend of the famous artist Thomas Kinkade have finally reached a settlement in the probate litigation case that had drawn the artist's $66 million fortune into question. Local media sources report that the details of the settlement have been made confidential, and neither woman will discuss the terms of the agreement. It is still unclear who will receive the man's massive home in San Francisco, Read More
ESTATE PLANS MAKE GREAT HOLIDAY GIFTS
Family members who are considering updating their estate administration plan should consider the holidays as a great time to ask for relatives' opinions and preferences. Getting together over the holidays can provide an excellent opportunity to revise documents to ensure that the small details are in order for the inevitable. Probate attorneys say they encounter a few common mistakes among a variety of estate Read More
HOW TO HAND DOWN YOUR BUSINESS – TAX FREE
Wealth that is concentrated in a private business can pose significant difficulties for those who want to bequeath their assets to a future generation. The federal government is likely to take a big bite out of any estate valuation actions that occur before death, unless a business owner presents a shrewdly crafted estate plan. Here are some tips to keeping your family business - and your family funds - where they Read More
WHAT DOES THE FISCAL CLIFF MEAN FOR YOUR ESTATE PLAN?
Recent talk about the "fiscal cliff" that is fast approaching on Jan. 1 has prompted worry in some circles about estate administration implications included in the expiration of certain tax cuts and spending provisions. The effects of the fiscal cliff on estate planning have not been addressed thoroughly in the national media, though it warrants some attention, considering the scope of the legislation that could be Read More
WOMAN TRIES TO COLLECT ON CHARITABLE FUNERAL
Some would say that no good deed goes unnoticed. In a bizarre burial scheme in Connecticut, though, it would appear that at least one good deed should go unpaid, at least through probate litigation. A funeral home director is attempting to collect money from a deceased victim's estate after she provided a lavish service for the man, who reportedly had no friends or family to mourn his passing. The director decided Read More
