You’ve worked hard to build your assets and want to protect what you’ve earned. You may have come across DIY estate planning advertised as a simple, inexpensive way to plan your estate. However, developing a strong estate plan requires a significant amount of paperwork and legal experience. An estate planning lawyer will help you build
The Reality of how the “Biden Plan” will change the TAX CODE—what to anticipate…. The first consideration of the “Biden Plan” in our Tax Code will be the “Step-Up Basis” elimination. The “Step Up Basis” is the newly assigned cost basis created by using the market value of an asset on the date of death
You may have been reading or heard what Mr. Biden wants to do with our Federal Estate Taxes, or to put it another way—-you SHOULD BE INTERESTED in what Mr. Biden PLANS TO DO with our Federal Taxes (we’ll address Mr. Murphy’s New Jersey plans later in our next article). First a little history so
In today’s world we realize, hopefully sooner rather than later, that we must address estate planning and in doing so comprehensively we strive to “cover all bases”. By this we mean, among all other issues (a) did we address the issue of your “digital assets” and (b) did we appoint a Funeral Representative in addition
“Celebrity” estate stories are too common: Think about the estates of James Gandolfini, who actually started, but postponed working on his estate planning six months prior to his unexpected death, unfortunately he didn’t start early enough and died unexpectedly at age 51 while vacationing in Rome, Italy. Also, actor Michael Jackson who died at age