06

Mar

Business Succession and the Graceful Exit

As trusted advisors, our clients depend on us for timely and well-informed advice. It is inevitable that all business owners will eventually exit their business; it is simply a matter of when, how and under what conditions. Ultimately, the desired result for exiting a business is...

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Categories: Business Planning Estate Planning

06

Mar

Using Pet Trusts to Provide for Your Pets After Your Death

There’s a saying that “a dog is man’s best friend”, and with good cause. Many of us treat our pets as part of our family, often as if they were our children. For those of us with pets, we want to make sure they’re taken care of if we can no longer do it ourselves; whether due to...

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Categories: Estate Planning Trusts

06

Mar

Does a Revocable Living Trust Offer Protection Against Lawsuits?

The Revocable Living Trust is very popular in America. A living trust helps you avoid the cost and delay of probate. You can also avoid the dangers from jointly owning assets. But here’s the downside: a revocable living trust won’t protect you from lawsuits. Though a revocable tr...

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Categories: Estate Planning Trusts

06

Mar

New Rules to Help Veterans with Medical Expenses

Veterans and their spouse should be aware that there are new rules that went into effect on October 18, 2018, regarding qualification for a type of Veterans’ assistance known as Improved Pension, with Aid and Attendance Benefits. Unfortunately, these new rules have put in place p...

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Categories: Elder Law Estate Planning Legal Advice Medicaid Vets

06

Mar

Federal Transfer Taxes

The Internal Revenue Service has announced the annual inflation adjustments for the 2019 tax year: 2017 2018 2019 Gift and Estate Tax Exclusion $5,490,000 $11,180,000 $11,400,000 GST Tax Exemption $5,490,000 $11,180,000 $11,400,000 Gift Tax Annual Exclusion $14,000...

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Categories: Estate Planning Ira Distribution Planning Taxation

06

Mar

What does it mean when the assets of someone who has died goes through probate?

Below is a simplified version of the first 90 days of the probate process…. In North Carolina, the Clerk of Superior Court (the “Clerk of Court”) is the basically the Probate Judge and is responsible for overseeing most all estate matters. Appointment: If a resident of North Caro...

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Category: Trust Administration

06

Mar

Green Burials

A question that is raised more and more during consultations with my clients relates to the concept of “green” burials. When I speak with a client about their desires regarding the disposition of remains, there are usually only two options to discuss: cremation or burial. We disc...

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Category: Estate Planning

06

Mar

Simultaneous Death Could Result in a Simultaneous Estate Disaster

We are often asked by our clients about what happens if there is a simultaneous death. While this occurrence is very unlikely, our clients are nevertheless concerned that it might happen to them. It happens not only in airplane crashes, but in thousands of car crashes a year res...

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Category: Estate Planning

06

Mar

The New Uncertainty in the Estate Tax Law Creates Opportunities for Gifting to Heirs and Charities

Forbes magazine published an article earlier this year entitled: “Trusts In The Age Of Trump: Time To Re-Engineer Your Estate Plan. ” One of the most favorable provisions in the new tax law–Tax Cuts and Jobs Act (TCJA)–is the doubling of the number of assets you can pass to heirs...

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Category: Trusts

06

Mar

StraussSecure™ and Passing Down Cryptocurrency Securely

In today's modern world, people experience incredible benefits from technology every day. Cell phones allow for immediate communication with anyone at any time; while the internet empowers people to gain instant knowledge on any subject at the click of a button. With all o...

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Categories: Estate Planning Firm Trusts