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Schedule Your Free Consulation06
Mar
May You Live In Interesting Times
2020 Year-End NewsletterBrad HenryYou might be aware that the above adage is thought to be a Chinese curse referring to times full of instability and uncertainty, and not as a type of blessing. Regardless of its origin, and regardless of whether it is a curse or a blessing, we...
View MoreCategories: Estate Planning Firm
06
Mar
Preparing for Falling Federal Estate Tax Exemptions
At the end of the year, please watch this space for our 2021 outlook letter, which will report on adjustments and changes in federal estate tax exemptions, among other estate and tax planning strategies. However, as a lead up to that, we would be remiss in not addressing and prep...
View MoreCategories: Estate Planning Trust Administration Trusts
06
Mar
A Coda to the Trilogy: The Role of the Living Will
In the last two posts, we looked at the Durable Power of Attorney and the Health Care Power of Attorney. In this last of the trilogy, we will look at the Living Will. Together, these three documents are often referred to as the client’s “ancillary documents,” in the sense that th...
View MoreCategory: Estate Planning
06
Mar
Future-Proofing: The Role of Health Care Power of Attorney
In our last post, we looked at the Durable Power of Attorney. We looked at its purpose, when it is effective and when it stops being effective. As we noted, the Durable Power of Attorney is a document where the client appoints someone else to help the client with his or her asse...
View MoreCategory: Estate Planning
06
Mar
Planning for the Unexpected: The Role of the Power of Attorney
We hear it quite often. “After I die, my power of attorney can keep paying my bills, right? ” The answer is, “No”, but the confusion is understandable. Our clients hear (or, read about) so many different roles when they visit us or attend our seminars. What is a fiduciary, a trust...
View MoreCategory: Estate Planning
06
Mar
Opportunity Zones: Are They the Right Opportunity for You?
What are Opportunity Zones? Opportunity Zones have attracted a lot of publicity since they were created in 2017. The Tax Cuts and Jobs Act created tax incentives designed to encourage investors with capital gains to reinvest those gains into low-income and undercapitalized commun...
View MoreCategory: Taxation
06
Mar
Don’t Lose the Family Home Due to Medicaid Estate Recovery.
Ever since the COVID-19 virus hit our state this spring, I have heard many instances of families facing the loss of the family home after a parent or grandparent has died while receiving Medicaid benefits to help pay the cost of a long term nursing home stay. This is especially...
View MoreCategories: Elder Law Estate Planning Legal Advice Medicaid
06
Mar
Digital Estate Planning – How to Prepare your Online Assets for After Death
We live in a digital society. We present and store an ever-growing amount of our lives (social, financial, work) in digital form. The average person has over 200 accounts per email, up from 150 just three years ago. Family treasures like photos, home movies, and messages now pred...
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06
Mar
Priming the Pump
Many married people are not aware that the State wrote a premarital agreement for them before they got married. They also were unaware that they had the right to write their own agreement before getting married instead! When married couples become aware of this, they often contac...
View MoreCategory: Trusts
25
Mar
Temporary Emergency Video Notarization
by Carter Webb and James FlemingTo prevent the spread of the COVID-19 Coronavirus, on March 10, 2020, Governor Roy Cooper signed Executive Order 116 (the “State of Emergency”) declaring a State of Emergency, which is to be effective until rescinded. The State of Emerg...
View MoreCategory: Advisors
06
Mar
For Deceased Individuals, the IRS Wants its Stimulus Payments Back
I was meeting with a client recently who wanted her Will and other documents signed. Her father had passed away a few months ago and during the signing, she told me that she had just received a check from the IRS for $1200 made payable to her father. She asked me what she should...
View MoreCategory: Trust Administration
06
Mar
Coronavirus and Your IRA
On March 27, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) became law. Among the most impactful tax changes found in the $2 trillion stimulus bill are the provisions affecting retirement accounts. Retirees do not need to take Required Minimum Distributions (...
View MoreCategories: Estate Planning Ira Distribution Planning
