February 26, 2015
There are plenty of DIY estate planning software, kits and templates around that allow people to create legal documents like Wills from the comfort of their own home. This might sound like a tempting idea—you don’t have to go anywhere and you can save some money on attorney fees, right? Unfortunately, it may not be […]
February 24, 2015
Recently, a client came to me with an unfortunate situation—his mother had died, leaving him her house. Although the house had been appraised at $350,000 when he inherited it, at sale two years later the house only brought $300,000. This was bad enough, but at least he got a $50,000 tax loss on the sale, […]
January 11, 2015
We have all heard of the Last Will and Testament. Maybe you have one yourself, or have been named in someone else’s Will. But what about a Trust? A Trust is an alternative to a Will, but not many people are familiar with or understand what it does and does not do. A Trust will […]
January 7, 2015
On December 16th the Congress passed the Achieving a Better Life Experience (ABLE) Act that aims to lessen the financial burden faced by individuals with disabilities and their caregivers. The ABLE Act permits creation of tax-free savings accounts similar to the Section 529 college savings plans. This piece of legislation allows individual states to establish […]
December 29, 2014
The word “estate planning” sounds like something from medieval England or colonial South—are you picturing plantation homes, castles and unimaginable wealth? However, the definition of “estate” actually goes like this: “the interest of a particular degree, nature, quality, or extent that one has in land or other property.” Therefore, most people on this planet have […]
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