Attorneys have long advised entire families with respect to their estate planning. Ethics require attorneys to maintain a duty of loyalty to each client they represent and fully advise their clients regarding the structures they are recommending. Sometimes even when the transaction works exactly as intended, lawyers get sued. Read on to learn more. … [Read more...] about How Estate Planning for a Family May Trap the Unwary Practitioner
Blog
State Income Taxation of Social Security Benefits
The pandemic has had a long-lasting influence on our culture, including encouraging relocation at previously unheard-of levels. Imagine the surprise of a recently relocated retiree who discovers that their previously untaxed Social Security benefits are now included in their taxable income at the state level. Taxation of these benefits could have a serious impact on their lifestyle and may provide a less beneficial financial picture than was first thought. Want to know whether your state taxes … [Read more...] about State Income Taxation of Social Security Benefits
Understanding Tax Apportionment Clauses
Many individuals mistakenly believe that they need a large estate before concerning themselves with taxes at their death. While the Federal government does not impose taxes until an estate exceeds the Applicable Exclusion Amount, it’s important to the role that state estate and inheritance tax play, as well as a beneficiary’s own financial picture. Without careful consideration regarding the source of payment, disastrous consequences result. Read on to learn more. … [Read more...] about Understanding Tax Apportionment Clauses
Common Mistakes in Medicaid Planning
The Wall Street Journal indicates a person who has reached the age of 65 will have a 40 percent chance of requiring nursing home care. Approximately 70 percent of people 65 and over need care for some duration in a nursing home, and a person who has turned 65 has a 40 percent chance of needing nursing home care for no less than five years. If you want to make certain you can afford any care you require when and if you need to move into a nursing home, you should work with The Law Office of … [Read more...] about Common Mistakes in Medicaid Planning
What Makes a Will or Trust Invalid
Clients often worry about the execution of their plan after death. Sometimes, individuals fail to see their complicity in the destruction of their plan. Numerous ways exist to invalidate an Estate Plan. A qualified Estate Planning attorney takes safeguards to protect the plan. Read on to learn more. … [Read more...] about What Makes a Will or Trust Invalid
