Other Estate Planning Topics

Durable Powers of Attorney for Property: Uses and Abuses

A Durable power of attorney for property (POAFP) is a very useful and essential financial and estate planning device.

Planning For Incapacity Part 1: The Power of Attorney

Planning For Incapacity Part 1: The Power of Attorney While no one wants to think about it, becoming incapacitated during your lifetime is not an unlikely event.

What is a Health Care Proxy?

The major benefit of the health care proxy is that it prevents conflicts between relatives of an individual when the individual can no longer make decisions.

Beneficiary and Fiduciary Liability for Income, Gift and Estate Taxes

It can be either a blessing or a curse to be appointed as the Personal Representative of an estate or Trustee of a trust (collectively a “Fiduciary”). One of the most over looked aspects of the job...

Beneficiary and Fiduciary Liability: Part Two

While the IRS may pursue collection of an estate tax deficiency from the beneficiaries, the Fiduciary will only retain a right of subrogation if the IRS elects to pursue collection of the tax def

Beneficiary and Fiduciary Liability: Part Three

Every estate and trust beneficiary (heir, legatee, and devisee) must be appraised of their potential for personal liability for unpaid estate taxes under...

Leaving Assets to Your Loved Ones Tax-Free

Few of us will ever need sophisticated estate planning strategies. As of 2013, each couple can gift up to $10.5 million dollars tax-free.

Estate Tax Planning

Estate tax planning is one of the most important things the owner of an estate can do to preserve as much of his/her assets and wealth as possible for the heirs and beneficiaries of the estate. Without proper estate tax planning, the Internal Revenue Service (IRS) can take a bigger portion of any estate there by leaving less for the intended heirs.

Protecting Assets from Taxes

While the options for protecting assets from taxation are becoming increasingly limited, it is still possible to prevent the IRS from becoming the main beneficiary of your estate.