| | Estate Planning
Is an Estate Plan Necessary? Part 1. Short answer? No, estate planning is not necessary in the strictest sense of the word. The correct answer? Yes! It is absolutely necessary. Many people refuse to think about what could happen if
| | Estate Planning
The IRS has raised the annual gift exclusion to $16,000 for 2022.1 What does that mean? An individual may gift to any other individual $16,000 in 2022 without reporting the gift. The recipient of the gift also does not need
| | Estate Planning
Hollywood magic has created the expectation that once someone passes away, the family will gather at the deceased’s attorney’s office and sit expectantly to hear the reading of the Will. Formal readings of a Will are just that, Hollywood Magic,
| | Estate Planning
Many families call in asking a key question, “Is there a registry in Arizona? I can’t find my deceased loved one’s Will.” The answer may surprise you… Arizona does not have a registry or database of Wills. The Will is
| | Estate Planning
A little mentioned curve-ball in the September House Ways and Means Committee proposed tax package which would raise top tax rates on ordinary income to nearly 40 percent (and capital gains to 25 percent), is that there are also considerable
| | Estate Planning
“Bruce told me it didn’t matter if he did estate planning,” Dolores* said, thumping into the conference room chair. She looked like she’d stepped straight out of a 1950’s beauty salon, her powder-white hair rolled into thick curls, her lipstick,
| | Estate Planning
When it comes to tax planning in 2021…the message might just be: Use it NOW, Before it’s Too Late If you have assets that total $3,500,000 or more, you should seriously explore whether you need to do some estate tax
| | Estate Planning
With a Democrat-dominant Senate, major adjustments to the estate and gift tax rules may be proposed by Congress soon. The modifications could potentially reverse parts of the Tax Cuts and Jobs Act of 2017 (“TCJA”), which was passed by the
| | Estate Planning
We get a lot of calls from Legal Shield Members regarding what the best way would be to transfer their property to their adult children without having to go through probate. There are several different ways you can transfer property
| | Estate Planning
November Could Bring About Dramatic Changes to Estate Taxes Retroactive to January 2021 If you have assets that total $3,500,000 or more, you should seriously explore whether you need to do some estate tax planning before the end of the
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