I heard that someone kept their loved one alive through January 2 on machines just to take advantage that there is no estate tax law this year. Unfortunately, there also is no step-up in basis at death and so that family could be facing a very high capital gains tax. This was not a concern when there was an estate tax because there also was a step-...
Sharon Ravenscroft Estate Planning Blog
Welcome to my blog covering all things estate planning, family estate planning. business planning, wills, trusts & probate.
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If you are ill or in an accident, who is going to make sure the doctors give you the care you need? Even if you are awake and able, being confined to a hospital bed can make it very difficult to check up on when your doctor is going to examine you, when your tests are going to be run and if your medications are being given correctly.You can give fu...
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Currently, there is no federal estate tax, but that does not mean there is no taxation at death. Instead, right now there is a capital gains tax that can be levied on any assets over $1.3 million (or $3 million for a spouse). Congress has been struggling with trying to adopt a law which will put the $3.5 million estate tax exclusion back in place--...
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The Durable Power of Attorney protects your access to your finances. You can give legal authority to the person of your choice to handle your finances if you cannot. Now, a financial power of attorney is simpler than ever. The Arizona legislature removed the requirement of initial each power to protect the agent from civil and criminal penalties if...
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