IRS Adopts “State of Celebration” Rule

Jamie Held / September 26, 2013
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According to the IRS, same-sex couples who were legally married in a jurisdiction recognizing their marriage will be treated as a married couple for federal tax purposes, regardless of where they currently reside.  Revenue Ruling 2013-17 reassures “legally married same-sex couples that they can move freely throughout the country knowing that their federal filing status […]

Florence Griffith Joyner

Jennifer Santini / September 21, 2013
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December 21, 1959 – September 21, 1998 Florence Griffith Joyner, also known as Flo Jo, passed away fifteen years ago today at the young age of 38. Griffith Joyner was an American track and field star, who most notably won three gold medals and a silver medal in the 1988 Olympic Games in Seoul, South […]

And the Huguette Clark estate drama continues

Maggie Green / September 20, 2013
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Huguette Clark’s estate litigation reaffirms some lessons that we already know.  Primarily, caretakers and advisors must take precaution when conflicts of interest arise, namely when they receive more benefits from a client than they would otherwise receive for their services. We all know that, as advisors, we should take extra steps to ensure that the […]

Appraisals

Jayne Sykora / September 16, 2013
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Oftentimes, some property in a decedent’s estate will be unique and difficult to value, like: a business, artwork, jewelry, collectibles, or real estate. Oftentimes the value will be needed to help complete an inventory in a probate and/or to determine any estate tax impact on the estate.  Additionally, objective appraisals can also help minimize or […]

Renter’s Rights At Death

Jennifer Santini / September 12, 2013
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We have written at length about the various estate administration tasks that arise when an individual passes away. One major task for the estate administrator (either personal representative or trustee) or family members is cleaning out the decedent’s home. When the decedent owned his or her home, the estate administrator has time to get the […]

Special Gifts

Jayne Sykora / September 6, 2013
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Oftentimes testators will choose to leave a specific piece of property, known as a specific gift, to a devisee in a Will. Or, in other instances, testators will choose to leave a specific dollar amount to a devisee in their Will, a pecuniary gift. Both of these gifts are considered special gifts. Property Gifts In […]

On the lookout … financial and estate planning writers to follow

Maggie Green / September 4, 2013
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I love finding new estate planning authors and professional bloggers to follow. They inspire me improve my writing and help me think of better ways to discuss estate planning concepts with clients. Two women in particular, Natalie Choate and Deborah Jacobs, are definitely worth following. So, if you are looking for talented, professional estate planning […]

Rocky Marciano

Jennifer Santini / August 31, 2013
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September 1, 1923 – August 31, 1969 Rocky Marciano was born Rocco Francis Marchegiano in Brockton, MA. He grew up to be one of the most legendary heavyweight fighters of all time. He earned the nicknames “The Brockton Blockbuster” and “The Rock from Brockton.” Rocky fought 49 heavyweight fights in his career and won all […]

Who Cares If Stretch IRAs Are Eliminated?

Chris Revak / August 29, 2013
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Only wealthy people benefit from the “loophole” anyways. Retirement plans were never intended to be an estate planning tool. It won’t impact me. I don’t care. These are some of the comments in the press right now regarding proposed legislation to end the ability of heirs to take inherited IRAs out over their life expectancies […]

Revival of a Revoked Will

Jennifer Santini / August 27, 2013
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Earlier this month I discussed what is required to revoke a Will. Occasionally, however, testators wish to revive a revoked Will. Similar to revoking a Will, there are certain requirements to ensure that it is the intent of the testator to revive a previously revoked Will. If a testator wholly revokes a subsequent Will (Will […]

Credit Report Accuracy: Why It Matters

Areti Georgopoulos / August 21, 2013
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Good credit is the gateway to economic opportunity. Just ask Julie Miller of Marion County, Oregon. After being denied a line of credit at a bank, she discovered that her credit report contained errors. They included an inaccurate Social Security number, an inaccurate birth date, and 38 collection accounts that were not hers. She was […]

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