So you have finally decided to devote some time to “making a will” after having it on your “to do” list for years, or decades. After some thought, and a couple of meetings with an attorney, you are the proud new owner of a brand-new last will and testament. Time…
When a child reaches the age of 18, a parent’s access to the adult child’s financial, medical, and academic records and information is usually cut off. There are four forms an adult child can consider executing, depending on the circumstances, and such forms should be executed as soon as possible….
As you may have heard, the House Ways and Means Committee recently released its proposed 2022 budget legislation known as the Build Back Better Act. This proposed bill includes various tax proposals affecting both corporate and individual taxes, and impacting both the income and estate and gift tax regime. Some…
The Consolidated Appropriations Act, 2021 (the “CAA”), signed into law by President Donald Trump on December 27, 2020, provides further relief for individuals both related and unrelated to COVID-19. Such relief includes an extension of the charitable deduction allowances granted under the Coronavirus Aid, Relief, and Economic Security Act (the…
There has been a lot of discussion about the impact that the upcoming election might have on federal gift and estate tax law. In light of this, we feel that it would be helpful to provide an update of the current situation and a brief summary of some of the…