The estate tax is a tax that is levied on your estate assets at the time of your death. Each taxpayer is entitled to take advantage of the lifetime estate tax exemption limit that will offset any estate taxes due at the time of death. That limit is set to make a significant change for 2013 that all taxpayers should be aware of. Under the current tax regime, each taxpayer may use the lifetime exemption limit of $5.12 million to avoid that payment of estate taxes. Any countable estate assets … [Read more...] about Estate Tax Changes Set to Take Place in 2013
The Danger of Using A Boilerplate Power of Attorney
The old adage “You get what you pay for” often applies when talking about legal advice or forms. While the temptation is great to search for legal forms on the internet in an attempt to save money and time, think twice before doing so. People often make the mistake of thinking that a power of attorney form is a relatively simple legal form and that using one found on the internet is harmless. The truth, however, is that a boilerplate power of attorney form can potentially do far more harm than … [Read more...] about The Danger of Using A Boilerplate Power of Attorney
Building for America’s Bravest Project and the Gary Sinise Foundation
Actor Gary Sinise, best known for his portrayal of Lt. Dan Taylor in the film Forest Gump, has just launched a project aimed at building smart homes for America’s seriously wounded veterans. Sinise played Lt. Dan Taylor, a Vietnam veteran, in the unforgettable film Forrest Gump in 1994 and as a result he has developed a close relationship to many of America's veterans. This relationship has grown over the years because of Sinise's dedication to veteran causes. One such example is the project … [Read more...] about Building for America’s Bravest Project and the Gary Sinise Foundation
Does My Child Need a Conservatorship?
Parents who have children with disabilities often have to balance the need to ensure the child's needs are adequately met with the desire to have the child live as independent a life as possible. A child who is unable to care for him or herself will likely need a conservatorship or adult guardianship so a competent adult will be there to make decisions for the child once the child reaches adulthood. However, other children may not need a conservator and may be able to maintain an independent … [Read more...] about Does My Child Need a Conservatorship?
What is a Representative Payee?
When incapacitated adults or an individual with disabilities loses the ability to take care of him or herself or make decisions, someone else typically has to step in to make these decisions on the person’s behalf. Whether this is a guardian or conservator depends largely on the laws of the state in which he or she lives, though the two positions serve similar purposes. Some individuals with disabilities stand to receive benefits from various government programs, such as Social Security or … [Read more...] about What is a Representative Payee?
Right To Die Laws
In some situations, people who are seriously ill or who are facing long periods of extended pain without any reasonable expectation of recovery may wish to end their own life before they go through a natural death. If these people are unable to carry out this final act, they sometimes wish for their physician or someone else to assist them in committing suicide. This is not the type situation which is covered by your advanced directive or living will, which allows for certain a treatment to be … [Read more...] about Right To Die Laws
Estate Planning for A Couple with An Age Gap
Estate planning is important for all married couples. Some situations make estate planning even more important. When a married couple has a substantial age gap between the partners, this can make a comprehensive estate plan crucial. Often, when an age gap is present (defined as more than a ten year age difference), the older partner has children from a previous relationship. This means that the older spouse likely wants to provide financially for the younger spouse in the event of his or her … [Read more...] about Estate Planning for A Couple with An Age Gap
The Importance of Protecting The Elderly from Identity Theft
For the younger generations, the risks of identity theft are well known. Anyone that is young enough to have embraced the use of computers typically has a very clear understanding of the dangers associated with storing personal information on a computer. For the elderly, the risk of identity theft is often not something they think about for the simple fact that they did not grow up using computers. For many elderly individuals, the ease at which information can be extracted from a computer is … [Read more...] about The Importance of Protecting The Elderly from Identity Theft
The Ted Williams Estate Battle — Money Wasn’t the Issue
In the vast majority of the estate battles that we hear about, the issue at the center of the litigation is money, or assets of the estate. What made the estate battled that followed the death of legendary baseball player Ted Williams was that the issue was not who would get his money, but what would happen to his actual body. Ted Williams is considered by many to be one of the best baseball players to ever play the game. When he died in 2002, the world mourned. Shortly after this death, one of … [Read more...] about The Ted Williams Estate Battle — Money Wasn’t the Issue
Trouble Brewing Already in Whitney Houston’s Estate
With the untimely death last week of legendary singer and actress Whitney Houston, sales of anything related to Houston are soaring, as is often the case after the death of an artist. While Houston’s estate is not worth anything near what an artist like Michael Jackson’s was, it is worth enough to fight over as we are already starting to see. Houston’s ex-husband, singer Bobby Brown, was invited to the funeral, but didn’t last long. The couple had a publicly tumultuous relationship until they … [Read more...] about Trouble Brewing Already in Whitney Houston’s Estate
