What to Know About Creating a Living Will
Creating a “living will” ensures your future health care decisions and plans are respected. A living will, or advance directive, is a legal document outlining medical treatment preferences and end-of-life…
2024 Annual Gift and Estate Tax Exemption Adjustments
With the arrival of the new year, revisions to the annual gift tax and estate tax exclusions will be going into effect, as recently announced by the Internal Revenue Service…
How Will the Sunset of the Increased Estate Tax Exemption Amount Affect Your Clients?
The estate tax exemption amount has more than doubled since 2017. However, unless Congress takes further action, the exemption amount authorized by the Tax Cuts and Jobs Act (TCJA) will…
Urban Institute: 400,000 Veterans Expected to be Uninsured in 2024
About 5 percent of non-elderly veterans — about 400,000 individuals — are projected to be uninsured in 2024, according to a new Urban Institute report. More than half, or 52.3…
6 Ways the Sandwich Generation Can Plan for The Future
Anyone experiencing the struggle of simultaneously caring for children and aging parents is part of the sandwich generation. Although “generation” is part of the phrase, it doesn’t refer to people…
Divorce Decree and Notes from Settlor Did Not Modify Irrevocable Trust
Ken and Sue Weeks created an irrevocable trust called the Agusta [sic] National Trust. Two pieces of real estate were deeded to the trust. One deed misspelled the name of…
What to Know About Probate: Estate Planning Basics
Most estate planning attorneys can help you craft an estate plan that minimizes or avoids probate altogether. Probate proceedings are part of the public record and can be very time-consuming…
Reducing the Risk of a Family Fight in Probate Court
Many family circumstances can increase the risk of probate litigation. High-risk factors that often bring about probate litigation can include sibling rivalry, second marriages without a prenuptial agreement, and dysfunctional…
Is Your Financial Information in Order?
Preparing and organizing your financial information for when you are no longer capable will bring peace of mind to you today. At the same time, it may relieve your loved…
Checks Cashed After Death Are Part of Estate
The United States Court of Appeals for the Third Circuit holds that checks cashed after the decedent’s death are still part of the taxable estate. In Estate of Demuth v.…