Comprehensive Tax & Legal Solutions
Estate planning often focuses on reducing the value of the estate, which can lower the tax burden. For instance, federal inheritance taxes may only apply at a certain level. Using a trust to reduce the value of the estate can get it under that level so that the bulk...
When Benjamin Franklin wrote, “In this world nothing is certain but death and taxes,” he likely wasn’t in your position as an executor of an estate who has to file a loved one’s final income tax return. However, that quote is nonetheless applicable. Along with...
No one wants to die and leave their loved ones to deal with their debts. However, when someone dies unexpectedly or is unable to repay their debts before they pass away, that happens. There may be a number of debts those administering an estate may have to deal with....
Millions of music fans mourned the loss of Tom Petty when he unexpectedly died in 2017. The Rock and Roll Hall of Famer left behind a sizable estate to his wife and two daughters that was set up as a trust. However, the wife of 16 years and grown daughters from a...
Siblings may have been raised in the same family, but they rarely have the same financial issues when inheriting money unless there is a trust that manages the estate. The more common scenario is for brothers and sisters to inherent the family home and/or other...
Many will remember the tragic death of Kansas City Royals pitcher Yordano Ventura, who died January 22, 2017 in a single-car crash. While contracts are an important part of professional sports, or any job for that matter, some will be surprised to note that the Royals...
Thinking about contesting a will during probate is a fairly common part of the process for many. Of course, the standing of the objecting party will have a lot of bearing on the matter with children of the decadent ranking much higher than a distant cousin once...
After a loved one dies, you and your family will likely experience many endings and closings. Among these is the process of probate, which legally closes a deceased person’s estate, pays any lingering debts and distributes the remaining assets. To many, probate is a...
The world mourned the loss of Aretha Franklin after her long battle with pancreatic cancer. Despite the fact that she was 76 years old and she knew she had cancer, Franklin left no will for her four children. According to media source, not only does this leave the...
After a loved one passes, you undoubtedly want to make sure that all of his or her final affairs are appropriately settled. If the decedent named you as executor of the estate, you will have many duties to attend to during the probate process. These duties also...