IRS Extends Late Portability Election The IRS recently issued a new procedure (Revenue Procedure 2022-32) that extends the time an estate has to elect portability to five years after the decedent’s date of death. Since portability is probably not top of mind for you or your clients, let us take a minute to review what [...]
Does The Guardian For My Child Have To Be A United States Citizen? Is Your Non-U.S. Acquaintance A Good Candidate To Be Your Child's Guardian? One of the more uncomfortable aspects of estate planning is deciding what will happen to your child if both you and the child’s other legal parent were to die unexpectedly. [...]
Things You Can Do To Help Prove You Are Mentally Competent When Executing Your Estate Plan How To Prove You Had The Capacity To Create Your Estate Plan Although we would all like to believe that our family and loved ones will honor our wishes as expressed in our estate plan, contests are more common [...]
Important Milestones You Can Incorporate In Your Estate Plan Modifying Your Estate Plan After Your Death Life is full of contingencies. While some outcomes are relatively certain, other events are more difficult to predict. This uncertainty can create estate planning challenges. Because life changes quickly and sometimes unexpectedly, your estate plan needs to be flexible. [...]
Red Flags When Hiring A Professional To Be Your Trustee How To Know If A Professional Trustee Is Reliable When you form a trust as part of your estate plan, one of the most important decisions you will make is who will oversee the trust’s management when you are no longer able to manage it [...]
Don't Let Your Cryptocurrency Give You & Your Loved Ones Nightmares Why You Need A Plan If You Own Cryptocurrencies Although cryptocurrency may be one of the latest investment strategies with great potential, for some individuals and their loved ones, investing in cryptocurrency has not gone as planned. The following stories are each a little [...]
The Death of Anne Heche: Lessons For Estate Planning How Not Having a Will Can Put Family Members In a Difficult Position Anne Heche’s recent accidental death was a shocking reminder of how every day can quickly turn into a tragedy. While driving through the Mar Vista neighborhood of Los Angeles on August 5, 2022, [...]
Important Issues To Address Before You Leave on Vacation Estate Planning While Being On Vacation Getting ready to embark on your next great adventure? Before you zip up the last suitcase, here are some issues you need to address to protect yourself and your loved ones. Do You Have a Foundational Estate Plan? Has It [...]
Spousal Lifetime Access Trusts: What You Should Know The Pros & Cons Of Settle On SLAT as a Estate Planning Solution No one wants to pay more taxes than they have to. To carry out this objective, many people search for the perfect estate planning tool that will allow them to control as much of [...]
Legal Perils of Gifts & Joint Ownership Between Unmarried Couples Unintended Consequences Of Co-Ownership Without Being Married Cohabitation without marriage is becoming more common in the United States. Among eighteen- to forty-four-year-olds, the percentage of adults who have lived with an unmarried partner at some point is now higher than the percentage of adults who [...]
