Legal Tip Of The Week – 5/15/18!

How Remote Are Remote Contingency Provisions? As an estate planning attorney, it is my job to talk about death and taxes in a very matter of fact manner.  When I sit down with my clients to design their documents, I try to take emotions out of the conference room as we go through what should happens at first death or second death.  When we come to the final part of the Will design, I ask […]

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Legal Tip of the Week – 5/1/18!

Changes to the Kiddie Tax Now that the new tax law has been underway for a few months now, this is probably a good time for a refresher on how the new changes affect the kiddie tax that could impact some families. The kiddie tax was first introduced in the Tax Reform of 1986 to close the loophole through which wealthy parents and grandparents would transfer assets the produced investment income to their children or […]

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Legal Tip of the Week – 4/17/18!

WHAT ARE ABLE ACCOUNTS AND WHEN ARE THEY USED? The ABLE account (or Achieving a Better Life Experience) program is likened to an Educational IRA with some differences.  An ABLE account can be set up for a Special Needs Individual who has had a disability diagnosis established before the age of 26.[1] Special Needs Individuals who apply for disability benefits have to show that they have resources under $2k and any income that comes to […]

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Legal Tip of the Week – 2/09/18!

Things I learned at Heckerling Two weeks ago, I was fortunate to be able to attend the 52nd Heckerling conference on Estate Planning.  This is a conference where the best & brightest minds in estate planning deliver tips & strategies on the latest planning techniques.  It was even more fortuitous for me, as a first-time attendee, that this year’s conference was all about the new tax code which went through a complete overhaul late last […]

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Legal Tip of the Week – 2/2/18!

It’s hard to believe that the holiday season is well behind us and we are into the first week of February!  This post was originally scheduled for a January submission but due to a recent good interruption last week (my attendance at the Heckerling Conference on Estate Planning in Orlando, Florida), there was a slight delay.  Stay tuned for my musings of the conference in the coming weeks.  Thank you! Incapacity Planning We all know that people […]

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Legal tip of the week – 12/8/17!

We all know about unclaimed property for your personal assets. All of your tangible and intangible items that you may have forgotten about (CDs, bank accounts, life insurance etc.) or haven’t been claimed for a long time, will be deemed abandoned.  Eventually these assets escheat to the state.  Go ahead and check out www.MissingMoney.com right now to see if you have any unclaimed property out there that belongs to you! Interestingly, I found out only […]

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