Post-Election Legal Update: Tax Reform Snapshot As the dust appears to be finally settling on the 2016 Presidential Election, the legal world is steadying itself for the likely changes headed our way as Republican President-Elect Donald Trump prepares to take office in January with a Republican controlled House and Senate.  High on the list of…

In “Gift Tax Exclusion 101, Part I”, we covered the basics of the Annual Gift Tax Exclusion’s general rule and the exceptions.  In Part II, we’ll discuss the implications of excess (or taxable) gifting for the Lifetime Gift Tax Exemption and the Personal Estate Tax Exemption; each is set at 5.45 million for 2016. To…

The death of legendary musician Prince on April 21, 2016 at the age of 57 rocked the world of 80’s music fans.  His music will endure, but what about his real legacy?  According to court filings in Minnesota, no will has been located.  What happens if Prince died without a will or trust?   Who…

Why a Retirement Trust Account gives you the best of both worlds. In the estate planning worlds of asset protection for beneficiaries on the one hand, and income tax advantages for beneficiaries on the other, the conventional wisdom that asks one to choose between the two when it comes to your retirement accounts, is no…

“Success is the sum of details.” -Harvey S. Firestone The Hunt for Red October, Patriot Games, Clear and Present Danger, and The Sum of All Fears…ring any bells?  Bestselling author, Tom Clancy, acquired a fortune worth over 100 million dollars during his life.  While he was mostly known for his successful books, the bulk of…

You can’t create wealth until you preserve it first. Each dollar lost unnecessarily isn’t just a single dollar lost, but a compounded dollar lost. A dollar not lost allows wealth to compound from a higher floor. Losses can occur from many places beyond investments: property, income, taxes and fees. It is well worth paying for…

Trusts are some of the most valuable tools for estate and wealth planning, but some unscrupulous individuals and companies can seriously harm your family’s financial and legal situation, by offering one-sized fits all scam trust plans or by proposing something that promises the moon, most typically either 100% avoidance of federal income taxes or 100%…

The Wealth Advisor The Most Important Parts of Estate Planning Can’t Get Legislated Away There is always a media swarm around the death of a celebrity, especially when they’re young, active in their careers, beloved, and tragic. The death of actor Philip Seymour Hoffman in early February is no exception. Hoffman was an incredibly talented…

Communication resulting from use of this web site does not create an attorney-client relationship. You will need to meet with an attorney and sign a separate written retainer agreement.

logo-footer