TrustLawyer

Estate Planning

Three Estate Valuation Victories – And one Executor’s Mistake

In my last post, I wrote about how the dollar value you assign to real estate or a business for tax purposes can vary depending on the circumstance of the situation. In this post, I describe 3 different scenarios where our law firm was able to save our clients thousands in taxes. I also describe a scenario where you actually save money by assigning a higher value.

Playing the Estate Tax “Valuation Game”

An important part of estate planning is to assign an “estate tax value” to every asset, including interests in real estate and businesses. Assigning the proper value to assets is more complex than you might think. And, if you don’t take full advantage of certain value reducing techniques, you can wind up paying tens of thousands of dollars more in taxes than necessary. In this post, I discuss some of the factors in valuing assets.

6 Vital Estate Planning Tips for People Diagnosed with Alzheimer’s (Part II)

This is the second of 2 posts on estate planning issues Alzheimer’s patients and their families need to address as possible after a diagnosis of Alzheimer’s. In his post I discuss the merits of a Trust versus a Power of Attorney, the benefits of transferring assets to the other spouse, and what to do if you’re concerned the Will may be challenged.

6 Vital Estate Planning Tips for People Diagnosed with Alzheimer’s (Part I)

Not everyone diagnosed with Alzheimer’s is “old.” In fact 200,000 Americans under age of 65 have it. Alzheimer’s patients and their families need to deal with estate planning issues early, while the person can make informed decisions. This post includes the first 3 of 6 vital estate planning steps Alzheimer’s patients and their families need to take as soon as possible after diagnosis.