Various tax filing and payment deadlines have been extended as a result of the Covid-19 Crisis. The following are the deadlines that apply to our Estate and Trust Group clients. INHERITANCE TAX RETURNS INHERITANCE TAX RETURN FILING AND PAYMENT DEADLINES HAVE NOT BEEN EXTENDED. Payments can be made and Inheritance Tax Returns can be filed […]
Read MoreEstate Administration is difficult in the best of times and these are not the best of times. If you have recently lost a loved one and you have been named as executor of the Estate or trustee of their Trust, this is an especially difficult time. Please read “NEW ESTATES” below for how we can […]
Read MoreThere are few things more important in life than creating a comprehensive estate plan. Unfortunately, this statement rings even truer in uncertain times, as anything can happen in the wake of the new coronavirus. That being said, one of the most important, albeit most overlooked aspects of estate planning is creating a digital estate. Please […]
Read MoreGenerally speaking, it is always a good rule of thumb to consistently monitor your estate plan. As time goes on, various aspects of your life will change, which is why it is always important that your estate plan adapts accordingly. That is why our firm generally advises individuals to review their estate plans at the […]
Read MoreUnderstandably, people generally do not like to consider the end of their life, let alone plan for it. However, it is always better to be prepared than to not be prepared for the inevitable. Fortunately, you can do so through the creation of a comprehensive estate plan. When you live a long life, it usually […]
Read MoreWhen a loved one passes away, family members will generally handle the deceased’s estate plan. During this time, if the decedent has a will, the probate process will begin. Probate works to determine the validity of the will and ensure its orders are ready to be carried out. The probate process is often complex, which […]
Read MoreAccording to literature, the “seven deadly sins” are lust, gluttony, greed, laziness, wrath, envy and pride. Although individuals may be guilty of these from time to time, other types of “sins” can be fatal to an estate plan if you’re not careful. Here are seven transgressions to avoid. Sin #1: You don’t create an estate […]
Read MoreRoth IRAs offer significant financial and estate planning benefits. If you have a substantial balance in a traditional IRA and are considering converting it to a Roth IRA, there may be no better time than now. The Tax Cuts and Jobs Act (TCJA) reduces individual income tax rates through 2025. For those making the conversion […]
Read MoreIs your pet like a member of the family? If so, you may want to revise your estate plan in case your pooch or feline outlives you, just like other family members. The optimal approach may be to use a so-called “pet trust.” Pet trusts have been around for decades, but they’ve been gaining in […]
Read MoreTrusts come in all shapes and sizes. However, from an income tax perspective, there are basically two types: grantor trusts and nongrantor trusts. Generally, with a grantor trust all trust income is taxed directly to the grantor — the person establishing the trust — and assets in the trust may or may not be included […]
Read MoreThe process of administering an estate is a very complex and time-consuming process. It is because of this that it is important to be prepared if you have a loved one that recently passed away. During this time, it is beneficial to retain the services of a compassionate and experienced attorney to guide you through […]
Read MoreWhen a person creates an estate plan, there are many options to consider. This is not only to prepare for their future but the future of their loved ones. Often times, people have others who are dependent on them that face certain challenges and need extra assistance. Questions can arise regarding who will take care […]
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