Asset transfers between individuals or estates are considered taxable events by the Internal Revenue Service. These taxes are often referred to as gift taxes and estate taxes. They include any asset such as cash and property. The good news is…
This question comes up all the time: “Couldn't I just make a will online, transfer my land and put my children into a bank account when I die?” It’s just not a good idea. For the plan to work as…
With the Internet of Things (IoT), knowing which digital property you own and managing it has never been more important. From smart home devices to online investments and bank accounts, we’ve gone way beyond using the internet to email family…
A resort agent suggested that Mom and Dad leave their timeshare to their children when they bought a timeshare in a resort, so that when the parents passed, the children would be able to continue to enjoy the property. It…
Currently, Alzheimer's disease has no cure for the more than 5 million Americans who suffer from it. Projections by the Alzheimer's Association (alz.org) are that by 2050 more than 14 million Americans will suffer from this disease. What can you…
There are a number of benefits to using both a will and a trust for estate planning. Each state has specific laws and regulations governing these legal documents. You can have both a will and a trust; however, the information…
The idea of leaving your property to your heirs might seem straightforward. You make a will or a trust, you do a transfer-on-death deed for your real estate, you put your kids on your bank account, you designate beneficiaries for…
A parent who is aging may lose the ability to make informed and meaningful decisions about his or her future. This growing inability may occur due to Alzheimer’s disease, other forms of dementia, mental illness, stroke, brain injury, or other…
In addition to working full-time, Sandy was caring for her 85-year-old mother on her own. Sandy would help her mom in the evenings and on weekends. Unfortunately, Sandy was in a serious car accident and would be out of work…
Enabling the Disabled Families can carefully manage their money to meet disability rules while still providing perks to the disabled individual. And, though the rules can be strict, disabled people are still permitted autonomy to own some money for their…