Blindsided – How Can You End a Conservatorship or Guardianship?
Michael Oher, a former professional football player, and the main character depicted in the film The Blind Side, has been in the news regarding a conservatorship that was created when he was in high school. Oher states that he believed, and the story told in the...
How to Preserve Tax Savings Before the Estate and Gift Tax Exemption Sunsets
The Tax Cut and Jobs Act of 2017 (“TCJA”) made meaningful changes to the tax code which is set to “sunset” at the end of 2025. Come Jan 1, 2026, the historically high estate and gift tax exemption, among other provisions, will disappear and revert to pre-TCJA...
What Is a Power of Appointment?
Some people shy away from creating trusts because putting assets into a trust means losing some control over that property. However, there are various techniques that can allow grantors (the trust’s creator) to have more flexibility over assets held in the trust....
Should You and Can You Terminate an Irrevocable Trust?
Irrevocable trusts are created with the intent that they cannot be altered, amended, or revoked. The benefit is that such trusts can be used to minimize estate taxes or protect assets for numerous purposes such as Medicaid planning or to provide creditor...
S Corporations and Estate Planning
Owning shares in an S Corporation can present some unique issues when it comes to your estate planning. An S-Corp is a corporation that elects special tax status under the Internal Revenue Code (IRC) Subchapter S. Often a business owner chooses S-Corp status...
How Can You Get Information About a Trust If You Are a Beneficiary?
If you are the beneficiary of a trust but lack critical details about the trust, most states have streamlined procedures in place that allow you to obtain information without the need for a full court proceeding. As a trust beneficiary, you are entitled by law to...