Nothing is more confusing to an estate planning client than the Marital Trust. To understand the Marital Trust requires stepping back in time. History of the Unlimited Marital Deduction In 1976, my grandfather passed away suddenly. I can still see my grandmother’s tears and look of anguish as we approached the farmhouse door. Then […]
In 1916, the U.S. enacted a tax on estates. And also in 1916, the U.S. established the first exemption from estate tax for estates below $40,000. It has been a wild ride ever since. In 1993, the exemption from estate tax was $600,000. In 2002 the exemption was $1,000,000. In 2024 the exemption is $13,610,000. […]
I went looking for 2022 celebrity deaths ending up mired in the probate courts. I only found one. Anne Heche. Shortly after her breakup with Ellen DeGeneres in 2000, Anne Heche started seeing Coleman Laffoon. Coleman and Heche married in September 2001, had a child named Homer Laffoon, separated in 2006, and divorced around 2007. […]
We are often asked about the best way to avoid the problems associated with probate in transferring property to the beneficiaries of wills. The short video below offers some insights on the issues and how best to ensure a smooth transfer of assets.
Passing ownership of property and other assets from one generation to another requires planning. This is especially true in long held assets where the tax base for the asset is passed to the beneficiary and can result in substantial capital gains tax coming along as well. We’re prepared a short overview of how this can […]
Jack’s mother and stepfather were married 25 years ago. Jack’s stepfather moved into Jack’s mother’s house when Jack was a teenager. Three years later the house was sold to purchase a new home. The new home was titled in the couple’s name as joint tenants with right of survivorship. Along with the house, Jack’s mother […]
Coloradoans are getting Margarita Fever. A trip to the Mexican sun coast. Warmth, salt air and a whiff of humidity. A yearning for a piece of Mexican paradise warms the body while a little tequila whispers soulfully that it is the right thing to do. Why A Fideicomiso? Foreigners cannot directly own Mexican real property […]
We hope that you’ll find these tips and insights helpful for your life planning. We are here to assist you. We appreciate your feedback and inquiries.
Worried About A Child’s Inheritance in a Divorce? Think Inheritance Trust. In 2019 the U.S. marriage rate for women was 16.3 per 1,000 women 15 years or older. The divorce rate was 7.6. For those wondering why women and not men, according to the U.S. Census bureau, women are a better and more accurate source […]
Part of planning for your life is anticipating that you may become incapacitated and need someone to make decisions as you would like. A written power of attorney gives someone you trust this power. There are; however, a number of things to keep in mind as you do this. We get these questions often. Can […]