There are a number of threats that can change or even destroy estate plans. Three of the biggest current threats to estate plans include family conflict, market changes, and tax laws. These threats were articulated after a survey was conducted by TD Wealth at the annual Heckerling Institute on Estate…
Estate planning serves a valuable purpose. Done correctly, estate planning can include all of a person’s end of life goals. If mistakes are made during the estate planning process, however, an individual can end up facing countless obstacles including paying more taxes and uncertainties about beneficiaries. In an effort…
The AARP reports that 64 percent of Americans do not have estate planning documents. While “do it yourself” estate planning documents might seem attractive if you do not have an end of life plan, they are not without risks. The advantages of “do it yourself” estate planning are clear.…
Every day, a countless number of people are exposed to sudden and unexpected emergencies. For people who do not have estate plans in place, these events can create very serious problems. Unfortunately when these events occur, a large number of people lack adequate estate plans. If you die without…
At the end of March 2019, the Pennsylvania Supreme Court heard the case of Gavin v. Loeffelbein, which concerns the appointment of emergency guardians. In the case, the Superior Court held that an emergency guardianship order automatically expired after a period of thirty days. In addressing this case, the…
Since 1970, marijuana has been classified as a Schedule I substance under the federal Controlled Substances Act in addition to other drugs like cocaine, heroin, and LSD. The cultivation or possession of marijuana is a federal crime unless used for federally approved research. Despite these federal laws, various states…
In March 2019, the Supreme Court of Nebraska affirmed the decisions of a county court in the case of In re Estate of Helms. Many years after Helms was killed in a terrorist bomb, his estate obtained a wrongful death judgment in federal court finding that Helms was a domicile…
In March 2019, the Alabama Supreme Court heard an influential estate planning decisions. The case was initiated by Chris Jones, who appealed a circuit court decision regarding a will contest about a will written by Jones’ father. Chris Jones initially filed the case in probate court because the probate court…
In a case that provides an important lesson about the role of charitable deductions, The Ninth Circuit recently affirmed a tax court’s decision to sustain a deficiency against an estate because the estate had overstated its amount of charitable deductions. In the case, Ahmanson Foundation v. United States, the Ninth…
There are a number of risks associated with the estate planning process. Some of the risks involved with estate plans include how interest rates will change and how old the creator of the estate lan is when they die. Not to mentions, tax laws change frequently and depending on the…