A recent study on the differences in charitable giving between the self-made wealthy and those that inherit wealth could have estate planning implications. A few years ago Bill Gates proclaimed that the first-generation...
The IRS Knows More about Art than You Think
March 3, 2016
In an effort to reduce their estate tax burdens, many wealthy families are tempted to undervalue their prized collections, such as art. The IRS, however, makes its own valuations. As with other taxes, most people seek ways to...
Estranged Children and Your Estate
March 1, 2016
If you have a child who you do not communicate with, you might want to make sure that the child does not receive part of your estate. The decision to do that can be difficult, but the process is not. A recent Market Watch...
It is always disturbing when an estate administrator steals from the estate and that goes double when the administrator is a former district attorney. John Paschall served as the District Attorney for Robertson County, Texas...
Tax Time Can Also Be Estate Planning Time
February 27, 2016
One of the best times to review your estate plan or to get one, if you do not already have one, is when you are doing your yearly taxes. Even if you have the assistance of an accountant, filing your income tax return can be a...
Appointing an Out of State Executor
February 26, 2016
If the best candidate to appoint as the executor of your estate lives in a different state than you, it is possible to designate him or her. However, there are some drawbacks in doing so that need to be considered. The...
Court Declines to Enforce Nursing Home’s Arbitration Clause
February 25, 2016
Many nursing homes insert mandatory arbitration clauses in their contracts with elderly patients. They do not do so for the benefit of the elderly. If you read the fine print on almost any standard contract a large company...
Avoid Common Executor Mistakes
February 24, 2016
If you are named as the executor of an estate, you might feel honored by the appointment. That honor can turn to horror if you make a mistake that subjects you to personal liability. Being the executor of an estate sounds a...
A Home Funeral
February 23, 2016
Traditional funerals overseen by a funeral director in a funeral home can be very expensive. Many are choosing the even older option of having home funerals. Having a mortician embalm the remains of the deceased and having a...
Taking Mom and Dad to Work
February 22, 2016
Millions of working Americans act as caregivers for their elderly parents. Will companies start to offer onsite elder care centers where employees can drop off their parents while the employees are working? For large...