Your living trust can provide that, after your death, wealth remains in trust for your child (or other intended beneficiary) to help with designated purposes. Well known examples of such purposes are health and education. But another purpose is help with buying a house. For example, your trust could provide that, after your death, the trustee may … Continue reading Trust inheritance provision to help your beneficiaries buy a home
People are often invested deeply in their charitable causes. Some give their money. Some donate their time. Some share their talent. To them, their charitable causes are an important part of who they are. It is important for such clients to discuss with their attorney whether they want that legacy to continue in their estate plan … Continue reading How to include your charitable causes in your living trust and estate plan
Below is a chart of our nonsensical estate tax laws. Note the wildly different amounts that can pass (or did pass) without estate tax, depending solely on the year of death. Yet, over the last 31 years, the amount that can pass without estate tax has never gone down, starting with President Reagan to President … Continue reading Chart of our nonsensical estate tax and gift tax laws….What will these tax laws be after 2012?
Back-to-School Tips for Students and Parents Paying College Expenses From the IRS Whether you’re a recent high school graduate going to college for the first time or a returning student, it will soon be time to head to campus, and payment deadlines for tuition and other fees are not far behind. The IRS offers some … Continue reading Back-to-School Tips for Students and Parents for Paying College Expenses
Renting Your Vacation Home: Tips from the IRS Income that you receive for the rental of your vacation home must generally be reported on your federal income tax return. However, if you rent the property for only a short time each year, you may not be required to report the rental income. The IRS offers … Continue reading Renting your vacation home