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Tag Archives: estate planning

Estate Planning: If it sounds too good to be true, it might be

Some recent situations that prove the maxim: “The funds you have in your daughter’s Uniform Transfers to Minors Account (UTMA) are hardly earning anything. You should transfer them to an annuity in your name with a guaranteed rate of return.”

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Estate Planning: Gifting: More than a new tie for Father’s Day

For most of us, a discussion on the topic of gifting does not include words such as taxes, exclusions or limitations. Rather, when the word “gift” is mentioned, it is done so with a connotation of birthday presents, like that new Ohio State University sweater vest or those always useful sub shop gift cards.

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Estate Planning: Demise of privity: Protecting from malpractice claims

Prior to June 2010, the venerable doctrine of privity, which has been abandoned in most states across the country, served as a shield to immunize New York attorneys from malpractice claims filed by estate representatives. This protection, however, has been essentially eliminated ...

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Estate Planning: The basic features of Supplemental Needs Trusts

Supplemental Needs Trusts (SNTs) are arrangements that are designed to provide for the financial needs of a disabled individual without causing him or her to become ineligible from receiving benefits from governmental programs, such as Medicaid or Social Security.

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Estate Planning: Answers to common estate tax questions

The “Bush tax cuts,” adopted in 2001, gradually increased the federal estate tax exemption while lowering the estate tax rates. On Jan. 1, 2010, the estate tax was temporarily repealed and replaced by a “carry over basis” tax regime.

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Reforms make estate planning more certain

The $858 billion tax bill approved by Congress and signed by President Barack Obama carries with it a number of key changes on estate planning, local lawyers say. Among the most notable are provisions ...

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