Joan Crawford, the movie star, was famously stingy in her will when it came to her four adopted children. She completely excluded her two oldest children, Christina and Christopher, from her will, and her other two children were left with just $77,500 each. While Crawford’s legacy seems harsh, the case was by no means unique. […]
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What’s the Story on Gift Taxes?
In brief, the IRS is not imposing a tax on the sweater you gave to Uncle Arnold for Christmas or those Amazon and Visa gift cards you gave your nieces. The IRS only starts taxing gifts when they surpass a certain dollar limit each year and during your lifetime. And gift taxes generally only hit […]
Protect Your Digital Assets
Digital estate plans are effective ways by which you can successfully protect yourself online. They can help you safeguard yourself against identity theft and the illegal reception of monetary information regarding your business finances as well as private files, like insurance paperwork. When you run a business and your company has a digital footprint in […]
The IRS Announces Inflation Changes for 2025
The following is not a comprehensive list of all changes, but a summary of key adjustments that will affect a wide range of taxpayers: Unchanged for tax year 2025 Not everything changes. By statute, certain items that were indexed for inflation in the past are currently not adjusted: Again, this is just a summary. […]
Should I Leave My Child a Buck?
Even the most meticulous parents can overlook important details when drafting their wills and allocating their estates. While the amounts left to beneficiaries may vary, the significance of precise wording should never be underestimated. Parents might even wonder: should I leave my child a buck? Conscientious parents might draft their wills after the birth of […]
A Close Look at a Trustees Duties
Julius Caesar’s wife was not a trustee, but she was (rather unfairly) expected to act like one. When she rebuffed a man who had tried to seduce her, Caesar divorced her anyway on the grounds that she must never even be suspected of unseemly behavior: “Caesar’s wife must be beyond suspicion.” The highest ethical standards […]
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