When are You Required to File a Gift Tax Return?
The IRS wants to know how much you’re gifting over the course of your lifetime. This is because while gifts may be based on generosity, they are also a strategy for avoiding taxes, including estate taxes, reports The Street in a recent article “Do I Need to File a Gift Tax Return?” Knowing whether you…
Dying Parent’s Financial Affairs Can Be Challenging
Dealing with a sick family member is a challenging and emotional time.
What If an Estate Owes Back Taxes?
My mother passed, and she was an administrator of my grandfather’s estate and the inheritances. The estate accumulated quite a bit of back taxes over the years. Will the IRS put a lien on that estate as well as hers to retrieve funds?
What’s Elder Law and Do I Need It?
Why Elder Law Is Necessary? In two words: baby boomers.
Why Should I Have a Living Will?
As a review of terms, a will is a legal document that specifies how a person’s estate should be handled only after that person’s death. A living will has nothing to do with how your “things” like property, money, jewelry, etc. are to be distributed. Unlike a will, it is, in fact, a document that comes into play while you’re still alive.
You May Need a ‘Durable’ Power of Attorney
A durable power will remain in force, if a court finds that you have become incompetent.
Now is the Right Time to Approach Parents about Estate Planning
If you have a parent over the age of, say, 65, thoughts about their future may have started to creep into your mind. However, because end-of-life planning can be emotional and overwhelming, it’s tempting to put these conversations off—and even more pleasing to avoid them altogether.
What Do Elder Law Attorneys Do?
Elder law attorneys can help with a long list of legal matters that seniors often face…
What are Digital Assets in an Estate?
Today, so many aspects of our lives are managed virtually. We keep currency, photos, music, documents, bills, medical records, artwork and even our social lives online or ‘in the cloud.’
Be the Good: $66 Million Raised in One Day
At the conclusion of the 18-hour day of giving, 100,000 donors from all 50 states and 26 countries had donated over $66 million. A good day, indeed.
