Perhaps you would prefer to take a charitable deduction this year. Maybe you have higher income this year, or the reduced ability to take a deduction next year. A donor advised fund may make sense for you. A donor advised fund allows a deduction this year, even though distributions will be made to public charities in future years. Read on to learn more about a donor advised fund.Would You Prefer a Charitable Deduction This Year? … [Read more...]
No Charitable Deduction in 2018?
The tax bills passed by the House and Senate would eliminate deductibility of state income tax and nearly double the standard deduction, dramatically reducing the number of people who would benefit from itemizing their deductions. As a result, most people would get no tax benefit from their charitable contributions. This article examines how a Donor Advised Fund could allow donors to make a contribution this year, getting a tax benefit, and then release the funds to charities in the … [Read more...]
Who Should Talk to Estate Planning Attorneys?
Bath estate planning attorneys provide invaluable help to clients in all different types of life circumstances and in all different situations. Talking with an attorney is essential to ensure that you are prepared for whatever the future brings. While many people think that only those who are older should worry about estate planning, the reality is there are many people who can benefit from the assistance and advice that an estate planning attorney can offer. The Law Office of Michael … [Read more...]
A Special Option for Special Kids
When planning for children with special needs, it takes special care to preserve their eligibility for public benefits. An ABLE account is a new way to preserve eligibility while gaining tax advantages. Read on to learn more about this new tool in planning for those who were disabled by age 26.A Special Option for Special Kids … [Read more...]
Basics of Estate Planning: Powers of Appointment – Part 2
Trusts can be very flexible instruments. One of the ways to add flexibility is by using powers of appointment. This article will examine the different types of powers of appointment and how that can impact taxation.Basics of Estate Planning: Powers of Appointment – Part 2 … [Read more...]
How to Make an Estate Plan That Takes Your Family’s Needs Into Account
Rochester estate planning lawyers can help you to create a personalized estate plan that is right for your particular family situation. It is important that you consider the needs of your heirs or beneficiaries when you are making your plans for your legacy. The Law Office of Michael Robinson, P.C. can provide personalized advice so you can provide for your loved ones in the best and most appropriate way. To find out more about the ways in which our Rochester estate planning lawyers can … [Read more...]
Basics of Estate Planning: Powers of Appointment – Part 1
Trusts can be very flexible. One of the ways to add flexibility is by using powers of appointment. This article will examine what a power of appointment is and how it may be used to add flexibility to a trust. An upcoming article will examine the tax consequences of powers of appointment.Basics of Estate Planning: Powers of Appointment – Part 1 … [Read more...]
Basics of Estate Planning: IRAs
IRAs are complex assets to handle in an estate plan. There are tax issues during life and after death. Read this article to find out more.Basics of Estate Planning: IRAs … [Read more...]
Basics of Estate Planning: Privacy and Estate Planning
Privacy is important, especially in today’s world. Learn how estate planning can enhance or reduce your privacy. Read on to find out more.Basics of Estate Planning: Privacy and Estate Planning … [Read more...]
Who Should Talk to Estate Planning Attorneys?
Bath estate planning attorneys can provide you with help preparing for what will happen if you get sick and planning for what will happen after you pass on. It's a common misconception that you only need estate planning help if you are old but this is not the case. You should talk with estate planning attorneys even if you are younger, as a lawyer with experience in estate planning can help you in many important ways. If you reach out to The Law Office of Michael Robinson, P.C. today, you … [Read more...]
