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Cincinnati Estate Planning Attorney
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T he new tax law has left an important estate tax issue up to the IRS to determine. That is what to do if the estate tax exemption reverts to its previous level and the deceased has gifted more than that amount. The recently passed tax reform bill required Congress... Continue reading
Posted 11 hours ago at Cincinnati, Ohio Estate Planning
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In the ongoing dispute between the IRS and Michael Jackson's estate, procedural errors may have cost the IRS the ability to charge the estate with tax penalties. The long-running dispute between Michael Jackson's estate and the IRS has been closely watched by estate and tax attorneys. Why? The ultimate outcome... Continue reading
Posted yesterday at Cincinnati, Ohio Estate Planning
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Officials aren’t sure what to do with the body legally and which court has jurisdiction. A messy dispute over the remains of Charles Manson is currently keeping his body on ice, according to Fox News in "Fight for Charles Manson's body is a 'circus,' county attorney says." At least five... Continue reading
Posted 4 days ago at Cincinnati, Ohio Estate Planning
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Federal estate tax gets the attention, but some states need focus as far as estate planning is concerned. There are some states that still levy an estate tax and can be expensive places to pass away, according to Forbes in "Where Not To Die in 2018." Some states tie their... Continue reading
Posted 5 days ago at Cincinnati, Ohio Estate Planning
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Winners and losers created in President Trump’s tax reform bill. The tax reform law recently approved without much debate and with enough last minute changes that it will take some time for people to understand all of the implications, includes some provisions that could have a big impact on many... Continue reading
Posted 6 days ago at Cincinnati, Ohio Estate Planning
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Hefner apparently had a lot of fun, but his estate plan calls for controlled behavior. It can be considered a strange world indeed when Hugh Hefner's estate plan limits how much partying and what type of partying his heirs can do, according to Page Six in "Hugh Hefner demands that... Continue reading
Posted 7 days ago at Cincinnati, Ohio Estate Planning
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Estate is worth $5 million and there are many claims against it. It is unusual that Las Vegas mass killer Stephen Paddock left behind an estate valued at approximately $5 million. However, it is not unusual to have many claims against the estate under the circumstances, according to Fox News... Continue reading
Posted Jan 15, 2018 at Cincinnati, Ohio Estate Planning
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Opioid deaths, as well as rapidly rising drug deaths in U.S. may be to blame. The age at which people will pass away is very important to some people. Insurance companies need to know for their actuarial tables, so they know what rates they should charge. The government needs to... Continue reading
Posted Jan 12, 2018 at Cincinnati, Ohio Estate Planning
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Congressional Republicans reached a final deal on a tax reform bill. They kept the estate tax in place, with an important modification. One of the bigger issues with the Republican plans to reform federal taxes had to do with the estate tax. Most Republicans would like to see it done... Continue reading
Posted Jan 11, 2018 at Cincinnati, Ohio Estate Planning
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The Supreme Court has granted a petition to determine whether state laws that automatically revoke spousal beneficiary designations upon divorce violate the Constitution. If like most people in Cincinnati, you provide for your spouse in your will, then it is important to revisit your will should you get divorced. Estate... Continue reading
Posted Jan 4, 2018 at Cincinnati, Ohio Estate Planning
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David Cassidy had relatively few assets when he passed away. However, his estate has been sued for his unpaid legal bills. When he passed away, David Cassidy did not have as many assets left as might be expected for a celebrity. The total value of his estate is approximately $150,000.... Continue reading
Posted Jan 3, 2018 at Cincinnati, Ohio Estate Planning
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By paying attention to your elderly family members, you can learn a lot about the things that you should do and not do when it is your turn to be old. Anyone in Cincinnati who has elderly family members knows that the elderly do not always do what we would... Continue reading
Posted Jan 2, 2018 at Cincinnati, Ohio Estate Planning
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What happened to Aaron Hernandez's millions of dollars in assets, has been the source of some mystery. Reports have now surfaced that he might have hidden them in a trust. There is little that is not tragic surrounding the story of Aaron Hernandez of the New England Patriots. It is... Continue reading
Posted Dec 28, 2017 at Cincinnati, Ohio Estate Planning
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Gaining access to a loved one's digital accounts after they pass away can be a difficult process. Most states have now passed a uniform law to help but it is still cumbersome. Until recently, it was almost impossible for family members to gain access to a deceased person's digital accounts... Continue reading
Posted Dec 27, 2017 at Cincinnati, Ohio Estate Planning
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Country music legend Glen Campbell recently passed away, leaving behind eight children. His will cut three of those children out of receiving any inheritance without leaving an explanation. Music legend Glen Campbell announced in 2011 that he was suffering from Alzheimer's. He made the news again in 2015 when two... Continue reading
Posted Dec 26, 2017 at Cincinnati, Ohio Estate Planning
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Even convicted murderers, like Charles Manson, leave behind estates when they pass away. Most do not plan for how their estates should be handled, but Manson did. It might seem strange to think that there is something everyone can learn from Charles Manson. The man was a monster responsible for... Continue reading
Posted Dec 21, 2017 at Cincinnati, Ohio Estate Planning
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The best way to prevent your family from fighting over your estate, is to let them know what to expect from your estate plan. The conversation does not need to be exclusively about money. Many different things can cause families to fight over a deceased relative's estate. Sometimes, families are... Continue reading
Posted Dec 20, 2017 at Cincinnati, Ohio Estate Planning
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B efore deciding whether or not to launch a legal challenge to a will or trust, it is important that you see an estate attorney to learn about no contest clause laws in your state. Many wills and trusts today have what is known as a “no contest” clause. Including... Continue reading
Posted Dec 19, 2017 at Cincinnati, Ohio Estate Planning
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Trusts are an excellent way to make sure that your assets are handled and distributed how you want after you pass away. However, they are not completely foolproof. Stanley Smith probably thought he did everything right in making his estate plan and he probably did. Smith was a multimillionaire who... Continue reading
Posted Dec 18, 2017 at Cincinnati, Ohio Estate Planning
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So-called blind trusts have been in the news frequently. This is because of the wealth of President Trump and many of his cabinet members. They are not a difficult concept to understand. For the past year, journalists and attorneys have debated on TV about President Trump's assets and how they... Continue reading
Posted Dec 14, 2017 at Cincinnati, Ohio Estate Planning
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Glenn Frey of the Eagles passed away recently. Details of his estate have been made public. The details of Glenn Frey's will are not that interesting on the surface. Nevertheless, the will does contain an interesting provision that illustrates how many wealthy people choose to handle their estate plans. Frey... Continue reading
Posted Dec 13, 2017 at Cincinnati, Ohio Estate Planning
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Bill Gates has called for a new approach to combating Alzheimer's disease and announced that he is contributing money to the cause. It is a well-established fact among researchers: the earlier that Alzheimer's disease can be detected and diagnosed, the better it is for the patient, in Cincinnati and elsewhere.... Continue reading
Posted Dec 12, 2017 at Cincinnati, Ohio Estate Planning
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The tragedy in Las Vegas has resulted in a court battle over the shooter's estate, pitting his family against some of his victims. It still is not entirely clear what happened in Las Vegas. It is known that a man named Stephen Paddock killed multiple concert goers from a window... Continue reading
Posted Dec 11, 2017 at Cincinnati, Ohio Estate Planning
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People would like to know how much money they need to have in their accounts, before they can consider retiring. That is not always an easy question to answer. How much folks need to save for retirement depends on several different factors. One important factor is what they plan to... Continue reading
Posted Dec 7, 2017 at Cincinnati, Ohio Estate Planning
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Executors and estate administrators can sometimes be tempted to use their powers to enrich themselves. They would be wise to resist the temptations. People entrusted to administer an estate are given broad powers to complete their tasks. While they often work under the supervision of the court, it is not... Continue reading
Posted Dec 5, 2017 at Cincinnati, Ohio Estate Planning