Federal Estate Tax Update

+-*Federal Estate Tax Update Death taxes are back in the news at the federal level. What Happened to the Death Tax Repeal Act of 2015? Back in February and March of 2015, identical bills calling for repeal of the federal estate tax and generation-skipping transfer tax were introduced in the U.S. House and Senate. In […]

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Caution: Is Your Asset Protection Plan Set Up to Fail?

+-*Caution:  Is Your Asset Protection Plan Set Up to Fail? You may be surprised to learn that not only has asset protection planning been around for a long time, but you have already engaged in it at some point during your life. In fact, you probably have one or more types of traditional asset protection […]

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Where is the Best Place to Store Your Original Estate Planning Documents?

+-*Where is the Best Place to Store Your Original Estate Planning Documents? Estate planning attorneys are often asked where original estate planning documents – wills, trusts, powers of attorney, and healthcare directives – should be stored for safekeeping. While there is no right or wrong answer to this question, consider the following:

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Death Tax Repeal Act Introduced in House and Senate

+-*Death Tax Repeal Act Introduced in House and Senate Identical bills have been introduced in the U.S. House and Senate that would permanently repeal the federal estate tax and generation-skipping transfer (“GST”) tax. Overview of Current Federal Estate, Gift, and GST Tax Laws

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Does Your Estate Plan Protect Your Adult Beneficiaries?

+-*If you think you only need to create discretionary lifetime trusts for young beneficiaries, problem beneficiaries, or financially inexperienced beneficiaries, then think again. In this day and age of frivolous lawsuits and high divorce rates, discretionary lifetime trusts should be considered for all of your beneficiaries, minors and adults alike. What is a Discretionary Lifetime […]

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3 Asset Protection Tips You Can Use Now

+-*A common misconception is that only wealthy families and people in high risk professions need to put together an asset protection plan. But in reality, anyone can be sued. A car accident, foreclosure, unpaid medical bills, or an injured tenant can result in a monetary judgment that will decimate your finances. Below are three tips […]

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U.S. Supreme Court Rules Inherited IRAs are Not Protected from Creditors

+-*U.S. Supreme Court Rules Inherited IRAs are Not Protected from Creditors The U.S. Supreme Court–in a unanimous decision–ruled that Individual Retirement Accounts (IRAs) inherited by anyone other than a spouse are not retirement funds and therefore are not protected from the beneficiary’s creditors in bankruptcy. The reasoning is, because the beneficiary cannot make additional contributions […]

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