When is a Dollar not equal to a Dollar? For those who have dealt with estate or trust distributions, it is found in the difference in the theoretical value and the true value received in distributions. Would you prefer $1,000 in cash or $1,000 in the present value of a US Savings Bond? Both are [...]
Archive for the ‘Estates, Wills & Trusts’ Category
The New Estate Tax Regime
First we predicted that the Congress would not fail to amend the expiring estate tax provisions; then 2010 arrived and the sunset of the 2001 – 2009 tax law came with nothing having been done. The elections of 2010 seemed to place the House and Senate on opposite sides of the issue, with Presi[...]
Free Money
The answer to “Why an ILIT?” If you have a taxable estate, then an Irrevocable Life Insurance Trust creates free money. Really. OK, so your estate is going to be taxable. You get it. Your family will be paying out a chunk. In order to be prepared for that reality, you can choose to keep [...]
OLMSTEAD Revisited
LLCs are often used for businesses because they offer dual protection: Limited liability of owners and managers for entity level acts; Limited ability to “take” an ownership interest away to collect for an outside personal liability. Single member LLCs (just one owner) were determined [...]
Your Child is Grown
Just a few years ago they were your bundles of joy, then your sleepless nights, your evenings and weekends with sports; you were the tutor, they the students. Now they are going to college. My, how things change! And they have changed probably more than you realize. In Florida as in most state[...]
Estate Planning Minimum Standards
Opinions vary on the “Standard of Care” for an estate plan. To a great degree, it depends upon the size and nature of assets, family circumstances, and a really good crystal ball in which to see the future. [...]