The estate tax is very controversial in some quarters, and those who decry the tax often mention the fact that it is an instance of double taxation. You pay taxes all of your life on your income, and whatever you have left over at the time of your passing is the after-tax remainder. The critics ask why this after-tax remainder should be taxed again. The above makes sense, but the death tax is a fact of life at the present time regardless of how you feel about it. To get an idea about just … [Read more...] about Should Unsellable Sculpture Be Subject to Estate Tax?
Blog
Larry Hagman Left Valuable Property Behind
Fans of the classic television series Dallas certainly remember Larry Hagman well. He played the memorable character J.R. Ewing, the man that viewers loved to hate. We lost Larry Hagman on November 23. He had been battling throat cancer and was being treated at the Medical City Dallas Hospital in Dallas, so ironically he passed away in the city that he is so intimately connected with via his work as an actor. According to reports the estate of Larry Hagman includes some … [Read more...] about Larry Hagman Left Valuable Property Behind
Elder Law Report Explains Medicaid Planning
People who are serious about preparing for the future should certainly consider the matter of long-term care. There are some misconceptions out there about the Medicare program. Some individuals go forward living in the moment without actually learning all the details. Sometimes they find out some disturbing facts when it is too late to react. Medicare will not pay for an extended stay in a nursing home or an assisted living community. And if you are thinking that you probably … [Read more...] about Elder Law Report Explains Medicaid Planning
What Separates Those Who Retire From Those Who Can't?
Most people are aware of the fact that the baby boomer generation is reaching the typical retirement age at the present time. This is resulting in huge numbers of people being faced with the prospect of putting their working years behind them. Statistics are indicating that a high percentage of these individuals are really not ready to retire, and many of them will never be able to do so because they do not have sufficient financial resources. One of the problems is a misconception … [Read more...] about What Separates Those Who Retire From Those Who Can't?
Gibb Family Must Remain Patient During Probate
When you use a last will to direct the transfer of your assets the heirs to the estate do not receive their inheritances until the estate has been probate and closed. In simple cases it can take months for the process to run its course. When more complicated circumstances exist it can actually take years. This time consumption is one of the major reasons why people avoid probate. With the above in mind the case of the recently deceased singer Robin Gibb is an interesting case in … [Read more...] about Gibb Family Must Remain Patient During Probate
Indianapolis Living Trust Report Available for Download
Here at Frank & Kraft we are sincerely committed to providing members of the community with good estate planning information. We go about this in a number of different ways, and one of them is by passing along a steady stream of useful knowledge on this blog. We also conduct outreach efforts throughout the area in the form of our free seminars. In fact, there are a number of seminars coming up in January and we will pass along the details shortly. In addition to the above … [Read more...] about Indianapolis Living Trust Report Available for Download
MetLife Releases 2012 Long-Term Care Survey Results
The results of the brand-new 2012 MetLife Mature Market Institute survey on the state of long-term care costs have been made public. Not surprisingly, the cost of residence in nursing homes and assisted living communities throughout the United States continues to rise. Before we share some of the statistics we would like to emphasize how important it is to plan ahead for these potential expenses. Medicare will not pay for an extended stay in a nursing home or assisted living … [Read more...] about MetLife Releases 2012 Long-Term Care Survey Results
Our Report on Wills Now Available for Download
One of the foundational elements to consider when you are taking stock of your legacy would be the vehicle or vehicles of asset transfer that you intend to utilize. There are many choices, but the most common one is the last will. These documents are pretty well understood as a way to state your final wishes in a manner that may seem rather simple and straightforward. However, last wills are not as elementary as you might think. There are websites out there claiming that anyone … [Read more...] about Our Report on Wills Now Available for Download
Engage Elder Law Attorney Before Signing Nursing Home Agreements
Sometimes you hear about a court case that has profound elder law significance, and we recently came across a 2011 decision that is quite instructive to those who are preparing to enter into nursing home agreements. The case that we are referring to is the matter of Cook Willow Health Center v. Judy Andrien. Ms. Andrien went about the task of having her mother admitted into Cook Willow Health Center, which is a nursing home. When she was filling out the paperwork she entered into an … [Read more...] about Engage Elder Law Attorney Before Signing Nursing Home Agreements
Including Your Grandchildren in Your Estate Plan
Grandparents who want to provide for their grandchildren have a number of options when they are engaged in the process of estate planning. First off we would like to look at the matter of education. Few things are more valuable than a good education, and college tuition is extremely expensive these days. Providing a free education to your grandchildren would certainly be a fine way to extend a hand. The fact is that there can be tax advantages that go along with paying college … [Read more...] about Including Your Grandchildren in Your Estate Plan
