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Schedule Your Free Consulation06
Mar
An Overview of Trusts and What it Means to be a Trustee
What is a trust and what are the powers, duties, and potential liabilities for serving as a trustee of a trust? A trust is a fiduciary relationship with respect to property in which one person (the trustee) holds the legal title to trust property for the benefit of another person...
View MoreCategories: Trust Administration Trusts
06
Mar
Welcome our newest attorney, Tiffany S. Tyler!
We are very excited to welcome Tiffany S. Tyler as the newest attorney in our Hendersonville Office! Tiffany’s experience as an Assistant Clerk in the Buncombe County Estates and Probate Office has offered her great insight into administering estates, trusts, and guardianships. T...
View MoreCategory: Firm
06
Mar
Does the New Tax Act Reduce the Income Tax Benefits of Giving to Charity and How to Encourage Larger Donations?
The Tax Cuts and Jobs Act which became effective on January 1, 2018, affects almost every area of income tax law, including charitable giving. An individual’s cost to donate money to charity has traditionally been reduced by the tax benefits afforded charitable deductions under s...
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Mar
North Carolina Increases Attacks Against the Estates of Long Term Care Medicaid Recipients
The Department of Health and Human Services at the Centers for Medicare and Medicaid Services approved an amendment to North Carolina’s State Medicaid Plan under Title XIX of the Social Security Act effective as of June 1, 2017. In these changes North Carolina has formalized a ch...
View MoreCategories: Elder Law Estate Planning Legal Advice Medicaid
06
Mar
Estate Planning Opportunities Arise with Passage of Tax Cuts and Jobs Act (TCJA)
The Tax Cuts and Jobs Act (TCJA), which came into effect on January 1, 2018, is the most significant overhaul of the tax code since 1986. Although it was meant to simplify the tax code, it is very complex and will undoubtedly be subject to ongoing modifications and interpretation...
View MoreCategories: Estate Planning Taxation Trusts
06
Mar
Using Life Insurance instead of an Internal Revenue Code Section 529 Qualified Tuition Program
Grandparents are often very fond of establishing savings accounts intended for grandchildren’s education. If they can do so with tax advantages, it is even better! Frequently a grandparent will consider starting a Section 529 Savings Plan for the grandchild because financial advi...
View MoreCategories: Estate Planning Taxation
06
Mar
2018 Estate Tax and Gift Tax Changes
“It’s tough to make predictions, especially about the future. ” Yogi Berra With the recently passed tax bill there is finally an official pronouncement from the IRS on the 2018 estate and gift tax exemptions. The IRS announced in October of this year that the gifting exemption bot...
View MoreCategories: Estate Planning Firm Legal Advice Taxation Trusts
06
Mar
Value is in the Eye of The Holder and the IRS Views Things Differently
Just as beauty is in the eye of the holder, it is often said that value is in the eye of the holder since it is a relative term and depends upon the context. In estate planning, the great majority of IRS challenges to wealth transfers focuses on hard to value assets. The New York...
View MoreCategories: Estate Planning Taxation
25
Mar
Strauss Attorneys, PLLC – Year End Tax Letter
By Lorin G. Page, J. D. , L. L. M. As we approach the end of 2017, we at Strauss Attorneys, PLLC would like to remind you of measures you can take to minimize your income tax liability. By taking proactive steps to secure credits and deductions, or accelerating or postponing income o...
View MoreCategory: Advisors
06
Mar
The Tax Benefits of Educational Trusts
Use of standalone Educational Trusts – those created specifically for the educational (and sometimes medical) expenses of children and grandchildren – is far less common since the ready availability of 529 Plans. 529 Plans have contribution limitations (varying by state) that are...
View MoreCategories: Estate Planning Taxation Trusts
