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Apr 25

Checklist of Tax and Non-Tax Considerations for Someone on His/Her Deathbed

I am often asked by family members of a loved one who is on his/her death bed what steps should be taken from an estate planning, tax and non-tax perspective that will make the individual more comfortable, save taxes, preserve assets and make settling the… Read More

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Tax, Trusts and Estates
Feb 23

Making Living Wills More Clear with a QR Code Link to a Video Personal Statement

They go by many names, living wills, advance directives for healthcare, healthcare powers of attorney and healthcare proxies.  I usually call them advance directives for healthcare (and will use that term in this article) because I think that covers all the issues they address. There… Read More

Nov 30

The Estate Tax Repeal Redux

A bit of tax history is in order.  In 2001 President George W. Bush signed the Economic Growth and Tax Relief Reconciliation Act of 2001 which eliminated what he had dubbed during his campaign the “death tax” … except it wasn’t a real repeal.  Under… Read More

Nov 14

Will My Facebook Page Join Me In Heaven?

What happens to your Facebook page, your Twitter account, your online banking and brokerage accounts and your emails when you die?  Who has access to these “digital assets” and who can use and control them or close them down?  This issue has been the subject… Read More

Sep 23

Clinton Proposes Estate Tax Increase on Super-Rich

As reported in an article from today’s (September 23, 2016) Wall Street Journal, Democratic presidential nominee Hillary Clinton has proposed an increase in the federal estate and gift tax.  She would lower the federal estate tax exemption from the 2016 amount of $5,450,000 per individual… Read More

Sep 19

Estate Planning Isn’t Just About Dying

Over the course of thirty years as a trusts and estates lawyer I have drafted hundreds, maybe even thousands, of wills.  After all, that is what estates lawyer do – we help our clients memorialize the disposition of their assets when we they die.  Wills… Read More

Jun 30

Material Interest Necessary to Obtain Decedent’s Tax Return

This guest post was authored by Mara Smith, a summer associate with Montgomery McCracken. For the last three years, you have spent one weekend during each of the summer months at your favorite great-aunt’s beachfront home in a swanky community at the Jersey Shore.  Also, you… Read More

Feb 08

Disappearing Discounts

While the federal estate and gift tax used to be assessed at a maximum rate of the confiscatory fifty-five percent (55%) (and for a few years and for very large estates, an astounding sixty-five percent (65%)) it is now at the historically low figure of… Read More