Blog
What Papers Do I Need?
My grandmother died with no will. No family member wants the land but me. What do I need to do? I am paying the back and present taxes on the land. I don't practice in Texas, but this is what I would do in Arizona. First of all, I would contact a title company to make...
Planning for the High Cost of Raising Your Child AND Your Family
How much does it cost to raise a child from birth to age 18? Online calculators now estimate the cost at about $250,000 (varying depending on where you live around the country), but any parent will tell you that it costs much more than that to raise a family. This is...
What If You Owe Taxes To The IRS?
You have many choices if you owe taxes to the IRS. You could owe taxes for yourself personally or you may owe taxes for a small business. Taxes owed by you for a small business are generally known as Trust Fund taxes. The IRS will set up an installment agreement with...
Stay Current and You’ll Stay Protected
In many of our previous posts we’ve stressed the importance of keeping your estate planning documents up-to-date. Changes to the law, as well as changes to your own personal, medical and financial status can wreak havoc on a well-crafted estate plan if these changes...
The Many Faces of Owning Property
Property ownership under the law is an interesting topic. No one ever thinks about property ownership until they buy something, like a house. Then one generally asks the real estate broker how they should hold title to their home. The problem with asking the broker is...
Back to Basics: Forethought and Planning Prevent a World of Hurt
Wills and estate plans are always touchy subjects among family simply because they can have so much hidden meaning... at least that’s what heirs often think: I got mom’s jewelry but my sister got a cash gift—does that mean mom loves her more than me? What’s wrong with...
Senate Considers Option to Prepay Estate Taxes
2010 has been anything but ordinary as far as the estate tax is concerned. First there was the unexpected repeal of the estate tax (unexpected not because the repeal was unplanned, but because nobody expected it to actually happen), then the idea that congress could...
Protecting Your Loved Ones With An ILIT Trust
The foundation of estate planning is control. Life happens. When one spouse dies it is natural for the survivor to remarry. In remarriage loyalties change. It is not good or bad. It just is. If you have children from a prior marriage or other beneficiaries you want to...
Harvard or Shady Oaks? How to Choose Your Financial Priorities
There are any number of things for which you can be earning and saving money: investments, retirement, college, a home, a car, the current high-tech gadget... The thought of it all is enough to make a person dizzy! So how do you decide what are the most important...
Why You Need to Update Your Trust in 2010
In 2001 EGTRRA substantially reduced the amount of estate tax paid by all Americans. The good news is that for this year, 2010, the estate tax goes away. The bad news is that the estate tax is replaced by a brand new income tax. All trusts needs to include language to...
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