In the United States, upon your death the federal government assesses a tax on the sum of your estate when you pass away. When your intended beneficiaries or executor/trustee take possession of your assets, they must pay a...
Category: Estate Tax
The moment when a loved one passes away feels, inevitably, insurmountable. Aside from the overwhelming feelings of trying to sort out funeral arrangements, the legal aspect of managing someone’s finances after they...
IRS 2022 Estate and Gift Tax Exemption Updates
February 15, 2022
INTERNAL REVENUE SERVICE 2022 ESTATE AND GIFT TAX EXEMPTION UPDATES The Internal Revenue Service (IRS) releases updated estate tax exemptions and gift tax exemptions every year. For the calendar year of 2022, estate tax...
How to Revoke Estate Planning Documents
March 31, 2021
The only constant in life is change, and usually after a significant change, an individual may face the strenuous task of adjusting their estate plan. An estate plan may consist of a revocable trust, a will, or powers of...
Do I Need an Irrevocable Trust?
March 24, 2021
Do I Need an Irrevocable Trust? We are often asked by potential clients whether it makes sense to create an irrevocable trust. An irrevocable trust is a trust that is set up for a specific purpose and cannot be undone under...