Federal and state laws and regulations are complex and are subject to change. It makes Greenberg Traurig one of the few firms to offer experienced advocacy in California’s Legislature, state agencies and courts. A well-made estate plan will usually avoid the probate process entirely, but not always. Absent successful planning through a complicated maze of federal and state pension and tax rules and regulations, retirement plan assets are subject to both income and estate taxes that can consume in excess of 70 percent of the asset value.
However, many don't know who to trust and are discouraged by expensive legal fees. Having suffered with his own father through a difficult final illness, he is particularly sensitive to the concerns we all share about the medical problems of aging, both for ourselves and our loved ones. The fourth edition of this book updates laws affecting intestate succession, wills, guardianships and trusts. Some artwork provided under license agreement. 3801 North Capital of Texas Highway, Suite J220, Austin, TX 78746
Iowa Code section 633.78 was revised to give both the representative and the financial institution the necessary authority and protection in dealing with assets. He has taught Federal Income Tax, Accounting and Managerial Accounting to undergraduates at SUNY Albany in the School of Business and has taught Corporation Tax in the Masters program at SUNY Albany. In fact, in 2015, more Lindquist attorneys were voted as Estate Planning & Probate Minnesota Super Lawyers and Rising Stars than any other firm.
Regardless of the term, it all means the same thing. Call Attorney Jackie Bedard at 919.443.3035. The best place to get started is by attending one of our complimentary workshops. A summary of the new IRS regulations and tips as to their current application. The topic of elective administration of estates, as an alternative to a formal probate administration, has been discussed by Section members for years.
He has seen tremendous change in the laws of estate and trust taxation, coped with probate systems on both coasts, and through the years has guided his clients through a wide array of planning challenges. Therefore, the probate periods associated with intestate and other disputed estate plans is avoided entirely. I am an Estate Planner and Financial Advisor in Colorado Springs, Colorado. Unfortunately, under Arizona law, without a mental health care power of attorney, the elder's loved ones are forced to petition the court for a guardianship with mental health care powers.
These brokerages sell your life insurance policy to institutional investors for typically three to five times the cash surrender value of the policy. By getting started with your estate planning now, our lawyers can help you find peace of mind in knowing that everything is taken care of. The firm also represents clients in fiduciary and estate litigation, including will contests and valuation disputes involving estate, gift and inheritance taxes. Johannes, Esq. has a diverse background as an estate planner, business lawyer and published author.
We know that you want to be confident your family is well-cared for - our goal is to ensure that confidence. This article will introduce the estate planning community to the new law, identify potential problems, and propose solutions. Counsel to the trustees of two trusts which owned more than $100 million worth of copyright interests of a renowned composer for the benefit of multiple generations of his family, only one of which trusts was exempt from generation-skipping transfer (GST) taxes.
The author also addresses avoiding claims by the client against the attorney for malpractice in reaching the settlement. Probate is a court supervised process for identifying and gathering the decedent's assets, paying taxes, claims and expenses of administration, and distributing assets to beneficiaries as directed in a Will or in accordance with the law if no Will exists. Our wills, trusts, and estates practice focuses on assisting clients with planning for the administration of their assets, both during life and after death Estate, Gift & Generation Skipping Transfer Tax Planning, Income Tax Planning We advise clients in planning for the orderly administration of their estates after their death, with a focus on minimizing taxes where possible.
Pierce Atwood provides comprehensive trust administration services to our clients. We serve clients in Florida statewide as well as New York and New Jersey. The estate plan should remain flexible and adaptable to your future needs. Our experience in estate and trust administration can provide for a smooth transfer of assets pursuant to a will or trust. We collaborate with clients’ trusts and estates lawyers in their countries of residence to ensure estate plans that coordinate the laws of multiple jurisdictions.
As I have previously discussed, the estate trustee is generally not personally liable for the deceased’s debts – they are paid from the assets of the estate. We handle contested matters including accounting proceedings, discovery proceedings, will contests, construction of wills and trust agreements, and other litigated matters involving decedents or trusts. The disadvantages of a probated estate are the attorney’s fees and court costs involved and the time necessary to transfer the property.