By Samantha Reichle In Part 1 of this two-part series, we discussed a few of the ways that joint ownership of assets can complicate an estate plan by unintentionally changing the manner in which assets are distributed after someone dies. Part 2 of this series will examine some additional issues that can arise when assets…

By Samantha Reichle As with any finely tuned machine, a well-maintained estate plan requires a thorough understanding of all its component parts to ensure that it functions efficiently. While the core documents that make up your estate plan might vary depending on the complexity of your wealth and legacy planning goals, even the most basic…

By Brad Henry One of my children’s favorite stories is The Shivers from Arnold Lobel’s Frog and Toad anthology. It begins as many good stories do—on a dark and stormy night. Frog and Toad sit down with a pot of tea and Frog proceeds to tell Toad a scary story, repeatedly asking, “Don’t you like…

We spoke with Dave Hunt, Founder and Wealth Manager at Milestone Wealth, about current estate tax laws and changes that may be on the horizon! Watch the YouTube video below to find out more!

Clients who have lost their spouse within the past two years may want to speak to us if his or her estate is close to $6 million. Why? Because there are pending tax proposals before Congress that would reduce the current $11.7 million exemption down to approximately $6 million on January 1, 2022, as opposed…

One of the most common tools in the estate planner’s toolbox is an Irrevocable Life Insurance Trust, or ILIT for short. The ILIT is useful for clients who have a life insurance policy that, if included with their other assets, would be subject to the estate tax. Consider this example: a client is a single…

Attorney Cory Howes is leading the Raleigh team: attorneys Samantha Reichle and Jessica Mantekas and paralegals Katherine Adams and Lenae Rastafar. Our Raleigh team is experienced with the full spectrum of estate planning, including basic wills to advanced estate tax and asset protection planning. Contact Cory for more information at cory@strausslaw.com

by Andy Strauss Community property is the law in nine states (Louisiana, Arizona, California, Texas, Washington, Idaho, Nevada, New Mexico, and Wisconsin) for property acquired by spouses during the marriage. While the laws differ somewhat between community property states, it generally means each spouse equally owns property acquired during the marriage (not through gift or inheritance)…

by Andy StraussThe Tax Cuts and Jobs Act of 2018 (“TCJA”) reduced corporate and personal income tax rates (top personal rate fell from 39.6% to 37% and the top corporate rates are now a flat 21%), but also eliminated many deductions. Notable deductions that were eliminated include moving expenses and alimony. It also eliminated deductions for unreimbursed employee expenses, tax…

By James Fleming and Brad HenryThe federal estate tax exemption has never been higher than it is today. It is currently set at $11.70 million per person (married couples can have a combined exemption of $23.40 million), which means that a person can gift that amount, either during their life or at their death, without…

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