Oftentimes, an individual’s largest asset is an operating business. Although the business is frequently passed down from generation to generation, at some point, the business may have to be sold.
As the April 15th deadline for filing 2018 income tax returns draws near (April 17th for Maine, Massachusetts and the District of Columbia), many taxpayers may face a situation in ...
Frequently, married couples have the desire to bequeath all of their assets to each other upon their passing. However, there may be reasons for spouses to instead transfer assets to ...
First comes love, then comes marriage, then comes a legal inability to disinherit your spouse? It’s true – New York state law prohibits an individual from completely disinheriting their spouse ...
In one of our previous blog posts, we discussed the growth of trusts that are utilized specifically to be named as beneficiaries of retirement accounts, and the various benefits associated with ...
Sales tax….no one likes collecting it and no one likes paying it. How many times have you heard a business owner say “but if you pay me cash…” How many ...
Decanting is a term that is used most commonly by wine sommeliers, but in the world of trusts and estates, it is also an important estate planning tool. Wine lovers ...
What do Aretha Franklin and Prince have in common? Not only are they both high ranking members of the royal family of music, they both passed away without a Will. ...
For many people, their retirement account is their largest asset. As a result, these accounts are being used less as a fund for one’s retirement, and more as a way ...
Various types of trusts are used in the Estate Planning process, for many different reasons. This is due to the fact that trusts are extremely useful tools for managing property, ...