12th Nov 2014

With the overturning of DOMA and multiple states now recognizing same-sex marriage by choice or by court order, there are many issues raised for same-sex couples.  One of the most important is the same as for any couple, don’t ignore … more

With the introduction of portability, do you still need a credit shelter trust or “CST”?  It is obvious that estate tax law has changed in leaps, bounds, and occasional crashes backwards over the past 20 years (2010 still creates nightmares … more

We often receive inquiries from heirs of estates, who are frustrated over delays in the administration of those estates. Sometimes, the estates have been in the probate process for several years and yet distributions have not been made to heirs and … more

3rd Oct 2014

Being an executor for an estate can be especially difficult when the deceased leaves behind debts.  Worse, when those debts are bigger than the size of the estate.  Even worse when those debts involve taxes from returns filed before the … more

One of the main reasons we find that people do not get around to doing their estate planning is the whole decision making process involved.  How will your assets be handled after your death, who will you appoint as your … more

Clients often come to us and ask what can they do to protect their private assets from the debts and liabilities of their business.  Incorporation in the form of a corporation, limited liability company, or for some a limited liability … more

16th Sep 2014

So you have this thing called an ILIT or Irrevocable Life Insurance Trust.   You know it has something to do with insurance, gifts, and keeping insurance proceeds out of your estate.  But in truth, you really have no idea how … more

15th Sep 2014

One of the most complex areas of tax law is the issue of passive income and passive losses vs. active income and active losses.  There isn’t enough coffee or Red Bull in the world to not fall asleep trying to … more

11th Sep 2014

The answer to that is when you know or suspect a problem.  Do not wait for the IRS or state tax authority to come knocking.  Address it head on by seeking professional advice as soon as possible. Take the illustrative … more

8th Sep 2014

Many years ago when estates larger than $650,000 could be subject to Federal estate taxes, everyone and their uncle had an irrevocable life insurance trust (ILIT).  For those of you not familiar with the ILIT, it is an irrevocable trust … more