Estate

Can You Rely on State Law to Leave Everything to Your Spouse and Kids?

 
 

Many people think that if they die while they are married, everything they own automatically goes to their spouse or children. They are thinking of state rules that apply if someone dies without leaving a will. In legal jargon, this is referred to as “intestate.” In that case, the specifics will vary depending on each […]

2017-07-24T14:09:13+00:00 July 24th, 2017|Estate, Estate Planning, Probate|0 Comments

New Legislation Could Mean the End of Estate Tax and GSTT

 
 

On January 24, 2017, the Death Tax Repeal Act of 2017, or H.R. 631, was introduced to the U.S. House of Representatives by South Dakota congresswoman Kristi Noem. If passed, H.R. 631 would completely repeal the federal estate tax. A separate companion bill put before the Senate by South Dakota senator John Thune, S. 205, […]

2017-02-20T14:19:02+00:00 February 20th, 2017|Estate, Estate Planning, Tax Planning|0 Comments

Estate Planning for Unmarried Couples Living Together

 
 

Whether one condone or condemn it, the trend of couples living together without being legally married (cohabitation) is continuing to increase in today’s society. With more couples holding off on marriage for whatever the reason may be (i.e. personal preference, financial, testing the relationship, etc.), cohabitation is the norm in the U.S. today.

Unfortunately, the law […]

2017-01-24T14:22:00+00:00 January 24th, 2017|Estate, Estate Planning|0 Comments

Quick Guide on the Impacts of Trump’s Presidency on Estate Planning

 
 

With Inauguration Day right around the corner, here’s what you need to know about planning your estate under the incoming Trump administration and Republican-controlled Congress.

President Trump’s tax plan

A new president usually means major shakeups in fiscal and tax policy, and Trump’s tax plan is no exception. Here are several of the proposed changes we will […]

2017-01-16T13:28:17+00:00 January 16th, 2017|Business Planning, Estate, Estate Planning, Tax Planning|0 Comments

Trust Is The Best Option for Avoiding Probate

 
 

There are many tools that a qualified attorney can use to keep your assets out of probate – for example, establishing joint ownership on bank accounts and real estate titles, designating beneficiaries for life insurance policies and certain accounts, and so on. However, setting up a revocable living trust is quite often the best, most […]

2017-01-10T15:08:32+00:00 January 10th, 2017|Estate, Estate Planning, Probate, Uncategorized|0 Comments

Probate: The Pros and Cons

 
 

The word “probate” often comes with a negative connotation. However, the probate system was established to protect the property of the deceased and his/her heirs. In certain cases, the probate system may even work to an advantage. Below are the pros and cons of going through probate.

The Pros

For some estates, especially those in […]

2016-12-13T18:44:31+00:00 December 13th, 2016|Estate, Estate Planning, Probate|0 Comments