Thursday, July 13, 2017

Should You Distribute Your Estate Equally Among Children in Unequal Circumstances?

Sample Case Study: Client in their mid 80’s with an estate of approximately $9,000,000. Children are three daughters in their early 60’s. Two of the three daughters have received substantial help (+/- $500,000 from the parents over the past 30 years). The third daughter has received little or no help as she has been financially […]

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Advanced Estate Planning Information For Caregivers And Surviving Spouses

Do You Have a List of All the Things You Own and Owe? Only you and your spouse typically know where information about all your banking, bills, accounts, doctors, debts, etc. is located. By listing the details of your life, such as property, personal information and finances on one document, you can greatly assist those […]

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Tuesday, June 27, 2017

Creating a Trust for the Benefit of Children from a Second Marriage

If you are in a second marriage, did you have children from your first marriage? What happens when your spouse has children that you have grown fond of? How do you treat children from a prior marriage versus the children in a current marriage? The best solution is creating a Trust(s) which can be established […]

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Tuesday, June 20, 2017

10 Simple (and Fun) Ways to Cut Taxes This Summer

It's already starting to feel like summer in many parts of the country. But the forecast for Washington remains unclear as officials continue to discuss various tax-related issues. No matter what happens in Washington, don't get stuck in a holding pattern yourself. Give some attention to business and personal tax planning this summer. Here are […]

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Consider Taxes before Converting Your Home to a Rental Property

Have you ever thought about becoming a landlord? This option may be tempting if your local real estate market is surging and rental rates are strong, especially if you're already planning to relocate or downsize to a smaller home. Ideally, you'll be able to shelter most or all of the rental income with tax deductions […]

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Monday, June 19, 2017

Should Family Members Be Compensated for Caregiving Services

As we get older, one in four of us will require some level of caregiving services. This could range from simply running errands and providing occasional transportation to doctors, shopping, to providing extensive around the clock care.  Experts estimate that family members provide more than $450 billion in elder care services annually. One question is […]

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Tuesday, June 13, 2017

Qualified Domestic Trusts (QDOT)

Qualified Domestic Trusts (QDOT) The basic idea of a Qualified Domestic Trust or QDOT (normally built into most revocable living trusts) is to avoid the forced payment of estate taxes on the death of the first spouse with a large estate, where the intended recipient is a surviving spouse who is a non-US citizen. Keep […]

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