Should I Make Gifts In 2010? The How and Why of Gifting In The Current Environment
Why gifts might really be savvy and how to make gifts to children and grand children in 2010. It looks like there may not be meaningful estate or gift tax changes in 2010. And, the crash landing of the nasty old federal estate tax on January 1, 2011 means that we will soon return to …
Tax Court Case Alert: Gifts of Limited Partnership (FLP) Interests Fail to Qualify for Annual Exclusion
In a Tax Court case, Price v. Commissioner, T.C. Memo. 2010-2 January 4,2010) gifts of limited partnership interests by parents to their three children did not constitute present interest gifts that qualify for the gift tax annual exclusion. The court stated that the present interest requirement is satisfied if the donee has immediate enjoyment …
Alert: PA Case Evidences Need To Review Tax Clause In Your Will
PA Case Tells Us To Review Tax Clause To Insure that the Correct Party Pays the Inheritance Tax on the assets In Your Estate. In Re Estate Of Thomas P. Allen, 2008 PA Super 260 Atlantic: 960 A.2d 470 the decedent had a will and the will contained a Tax Clause intended to determine whether …
Announcing Our Complimentary Will and Trust Review Clinic and Appointments
Do you want a complimentary will or trust review? The appointment is free for the first twenty -five....
PA Case Law Update: Your Joint Accounts Might Not Pass To Surviving Joint Owner
If two PA Cases continue to hold, Your Joint Accounts Might Not Pass To Surviving Joint Owner. We have long believed in the sanctity of the contractual obligation created by a joint account designation. We believed that the joint account would pass automatically to the surviving joint owner regardless of what the decedent’s last will …
I Have A Trust. Why Would I Still Need A Will? And Other Scary Estate Planning News
Was your trust prepared by a non lawyer or by a lawyer that you never saw? why this might actually cost your heirs...
Douglas Kaune, Esquire Attends 11th Annual PA Elder Law and Estate Planning Symposium
Douglas Kaune, Esquire Attends 11th Annual Pennsylvania (PA) Elder Law and Estate Planning Symposium. It is great to get an update regarding the law changes, new cases and politics that shape Elder Law, Estate Planning, Trust Planning and Probate. Here is a link to this Pennsylvania Bar Institute (PBI) course and the interesting topics covered. I will …
Think Congress Is "Crazy" For Not Passing Some Kind Of Federal Estate Tax Law? Paul Volcker Agrees With You.
Estate and trust lawyer, David Frees on estate tax planning ideas and information on the crazy federal estate tax situation
Take Estate Planning Documents, Wills, Trusts and POA’s Out of Moth Balls
It is important to continuously review your estate planning documents such as Wills, Trusts, Powers-of-Attorney and Living Wills, to insure that they name the correct Executors, Trustees, Guardians, Beneficiaries and Power of Attorney. It is not enough to sign these documents once. You must continuously review your present needs, the needs of your family and …
Caution: Federal Estate Tax Will Apply To Non Resident Aliens
Federal Estate Tax Will Apply To Non Resident Aliens. It is very important for Non Resident Aliens owning assets in the United State (U.S.) to know that their U.S. assets will likely be subject to a U.S. Federal Estate Tax. Many people think they have to take up residency in the United States for the …