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How Do You Get a Power of Attorney?

To get power of attorney (POA), the person granting you that power must name you as the agent to have the powers specified in the POA document. It must be signed by the giver while s/he is sound of mind.

Posted on: April 14, 2022

How to Handle Digital Assets in a Will

The rapid rise in circulation and growing popularity of cryptocurrencies is prompting attorneys and estate planners to adjust, as digital assets are inherited through wills, trusts and estates, according to experts who warn of the danger of lost or misappropriated assets.

Posted on: April 13, 2022

Is Estate Planning Affected by Property in Two States?

When it comes to owning property in two different states, you may wonder how to manage these in your estate plans.

Posted on: April 13, 2022

What are the Current Gift Tax Limits?

In 2017, Congress doubled the exemption starting in 2018, and the amount will continue to rise with inflation through 2025. This expansion helped reduce the number of taxable estates to about 1,300 for returns filed in 2020 from about 5,200 in 2017, according to the latest IRS data.

Posted on: April 11, 2022

Should I have a Discretionary Trust in My Estate Plan?

A discretionary trust is a type of trust that can be established on behalf of one or more beneficiaries.

Posted on: April 8, 2022

Why Shouldn’t I Wait to Draft my Will?

It’s an important task that is easy to procrastinate. However, here is why you shouldn’t:

Posted on: April 7, 2022

What are the Pitfalls of a Charitable Remainder Trust?

A charitable trust can be set up in different ways and have various tax impacts. Two common types are the charitable remainder trust and the charitable lead trust. There are also variations within these categories.

Posted on: April 6, 2022

How Does Gift Tax Exclusion Work?

In 2022, the annual exclusion for Federal Gift Taxes increased to $16,000 per person per year. Although there is near-universal acceptance of the importance of gifting, there are several issues you should consider before making any gifts.

Posted on: April 5, 2022