Accelerate Deductions and Defer Income – It sometimes makes sense to accelerate deductions and defer income. There are plenty of income items and expenses you may be able to control….
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The estate tax is one component of the federal transfer tax system, which also includes the gift tax and the generation-skipping transfer tax. The estate tax is a tax imposed…
Probate assets consist only of assets owned by the decedent at death that do not pass automatically (i.e., by operation of law) to the intended beneficiaries. A person’s will deals…
On August 2, 2016, Sen. Charles Schumer, D-N.Y., proposed a bill titled “United States Appreciation for Olympians and Paralympians.” The Senate approved the bill by unanimous consent, and the measure…
On May 25, 2016, Senate Finance Committee Ranking Member Ron Wyden (D-OR) introduced the “Presidential Tax Transparency Act”, a proposed new law which would amend the Federal Election Campaign Act of 1971 to require…
Probate is the legal process that takes place after someone dies of proving the validity of a will or establishing who is entitled to receive the decedent’s property under state…
And then there were three: a pre-convention look at the Presidential candidates’ individual tax reform plans The end of the 2016 primary season is in sight, and while many significant…
You should always work with a lawyer when setting up a trust. A poorly created trust can be confusing, expensive, and/or ineffective. The trouble with do-it-yourself planning is that even…
A trust can own almost any kind of asset except for retirement plans. The types of assets that can be retitled in the name of the trust include cash accounts…
To the layperson, trusts can appear complicated. People often think trusts are only for the very wealthy. In reality, trusts can be useful for people of all income levels. A…
