Tax season is upon us and it seems as though it is more confusing than ever with new tax laws put in place. If you received an inheritance from a loved one within the last year, it is important to consider that when filing taxes. While there isn’t any federal inheritance tax, it is important […]

Before people pass, they usually take the necessary steps to ensure that their wishes are followed and their estate functions the way they hoped. This is supposed to ease their stress of not knowing what will happen once they are gone. It also helps avoid stress among the family left behind so that they may […]

At some point in an individual’s life, it may be difficult for them to manage their own affairs. In order to ensure that all matters are handled, loved ones will often step in to offer help. Many families choose to appoint a guardian to an individual who needs assistance with their affairs, whether they are […]

When an individual passes away, leaving an estate, it is important to be aware of the tax consequences that are associated with the assets the decedent owned at the time of death. It is important to be aware that estate taxes are different than inheritance taxes. Often, when an individual is planning their estate, they […]

Planning one’s estate is essential to their future. One component of estate planning that some people choose to utilize is a trust. A trust is appropriate for some circumstances and can allow the parties involved to reap a number of benefits. The individual must gather information on what type of trust will work best for […]

When an individual, known as the grantor, sets up a trust that typically benefits other individuals, they must appoint a trustee. A trustee has a very important role in making sure that the trust is properly administered, among other things. While trusts can be set up for a business or a charity, most of the […]

One of the most important legal documents an individual may draft in his or her lifetime is a will. A will simply outlines how an individual wants to distribute his or her estate after they pass. The individual gets to carefully choose beneficiaries to inherit assets, as well as specifically name who doesn’t receive assets. […]

One of the most important jobs a person can be given is to act as the executor of another person’s will. When a person passes away, the executor carries out all of the responsibilities of managing the deceased party’s estate. The executor must gather the assets, make sure all taxes and debts are paid off, […]

Unfortunately, there may come a time in the life of individuals whereby they can no longer manage their own affairs, leaving many important matters that must be handled. Therefore, if there is no Power of Attorney and/or Advance Directive for Healthcare, or if these documents are insufficient under the circumstances, a guardianship may be necessary. […]