The C&Z TrustElderLaw Blog
When it comes to annual estate planning, we must consider both estate taxes and gift taxes. In this article, we discuss gift taxes for 2017. You can learn more about the estate taxes for 2017 here(1).
2017 Annual Gift Tax Exclusion
The annual federal gift tax exclusion for 2017... Read more.
If you’re trying to manage your estate’s federal and state tax liability, you need to keep in mind both the federal and state estate tax exemption.
Federal Estate Tax Exemption
The estate tax is a tax on the value of property transferred at death. Property includes life... Read more.
First, what does the term “undue influence” mean?
Undue influence is a term that means persuasion exercised by one or more people over someone else, to bring that person to the point of signing a Will, a Trust or a Deed that does not truly represent how that person would want to see... Read more.
Attorneys spend several hours preparing customized Wills, Trusts, and Durable Powers of Attorney. But do they prepare a flow chart that shows where assets will go under their client's estate plan? Some attorneys summarize key provisions for their clients. Yet, these carefully crafted... Read more.
What Is a Hotchpot?
I know it sounds like a delicious dish, but a hotchpot is actually an estate planning tool used in many Trusts and Wills. While it is also used in other contexts, as an estate planning doctrine, it dates back as early as the 12th century.
Our children are... Read more.
Those who age alone are “orphan elders.” Orphan elders may have no surviving spouse, may never have had children, or may have lived long enough to have no surviving close friends or family. Because of health or financial reasons, they may be socially isolated, either completely or partially.... Read more.
What is a “no contest” clause in a will?
... Read more.
When we prepare an estate plan for our clients they often ask, “Where is the best place for me to keep my Will and other estate planning documents?” The answer to this question may vary from state to state. Some states have a procedure for filing or registering wills with a registry of wills, or... Read more.
A power of attorney gives someone you trust the power to sign financial documents for you. If you lose the ability to make financial decisions or you are away on vacation or business, your agent can act for you.
We find many of our clients have powers of attorney but they are old. Now,... Read more.
Our estate planning law firm recently had an elderly client who was selling her home in Connecticut and moving to another state. She bought her home with her husband in 2000 and both of them were listed on the deed as joint tenants with rights of survivorship. Then – in 2003 – the husband died... Read more.