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Graber & Johnson Law Group LLC
Recent Activity
Collecting Social Security from Divorced Spouse
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“It’s always smart to maximize your Social Security benefits, and if you are divorced, one way to do that might be to take them based on your ex’s earnings record. Here are some of the rules on how that works.” Any divorce is tough, but late in life divorce presents... Continue reading
Posted yesterday at Graber & Johnson Law Group LLC Blog
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Do You Have to Do Probate when Someone Dies?
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“For most of us, the first time we ever thought about probating a will is when someone in our family has died. So, what does it mean to probate a will?” Probate is a Latin term meaning “to prove.” Legally, a deceased person may not own property, so the moment... Continue reading
Posted 2 days ago at Graber & Johnson Law Group LLC Blog
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What Do I Need to Know about Estate Planning?
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“Expert tips on why starting your estate plan early, choosing beneficiaries, and thinking about how you want to transfer your wealth to the next generation are critical for your financial future.” Your idea of planning for the future may include vacations and visits to family and friends—estate planning, not so... Continue reading
Posted 3 days ago at Graber & Johnson Law Group LLC Blog
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Can a Daughter Help Parents by Buying Home?
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“I am one of three daughters who will inherit our home when our parents pass away. They have a mortgage on the home and some credit card debt. Would it be wise for us to purchase their home before their death, so their mortgage debt is paid off?” A daughter... Continue reading
Posted 4 days ago at Graber & Johnson Law Group LLC Blog
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Your Will and Estate Planning Checklist
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“Most people should have a will, but it's rarely the most significant estate planning document that an individual will hold.” Dying without a last will creates additional costs and eliminates any chance your wishes for loved ones will be followed after your death. Typically, people think about last wills when... Continue reading
Posted 5 days ago at Graber & Johnson Law Group LLC Blog
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Michael Jackson Estate’s Big Win against IRS in Tax Court
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“A ruling that Michael Jackson’s image and likeness at the time of his death were worth about $157 million less than the IRS estimated warns the agency not to look too far down the road, when assessing the value of a celebrity’s estate.” Estate planning lawyers agree: the recent victory... Continue reading
Posted 5 days ago at Graber & Johnson Law Group LLC Blog
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Tackling Estate Plan Quarter by Quarter
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“Death, taxes and our fingers are a few things we can count on. As for the former, taxes will be owed, and death is certain.” Most of us know that a tax bill is typically due on April 15, and we know that our paychecks will include deductions for taxes,... Continue reading
Posted Jun 3, 2021 at Graber & Johnson Law Group LLC Blog
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When Should Children Receive an Inheritance?
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“Is it better to help your children when you’re still alive? Or wait until after you die?” Should an inheritance remain an inheritance, given to children only after their parents die, or should parents use some of the money to help their kids out while they are still living? That’s... Continue reading
Posted Jun 2, 2021 at Graber & Johnson Law Group LLC Blog
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What Does SLAT Mean in Estate Planning?
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“These spousal trusts are garnering attention as estate and gift tax exemptions are poised for overhaul.” Interest in SLATs, or Spousal Lifetime Access Trusts, has picked up as the new administration eyes possible revenue sources from estate and gift taxes. According to a recent article titled “What Advisors Should Know... Continue reading
Posted Jun 1, 2021 at Graber & Johnson Law Group LLC Blog
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How Do I File Taxes on a CARES 401(k) Withdrawal?
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“Penalties were waived on 401(k) and IRA withdrawals for coronavirus costs, but you still owe the taxes.” Several bills were passed by Congress to ease financial challenges for Americans during the pandemic. One of the provisions of the CARES Act was to allow workers to withdraw up to $100,000 from... Continue reading
Posted May 21, 2021 at Graber & Johnson Law Group LLC Blog
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Announcing Of Counsel Relationship with Christy West
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We are excited to announce Christy West is joining our firm as Of Counsel! Christy West, owner of The Law Office of Christy West, LLC, and Graber & Johnson Law Group, LLC have announced the formation of an “Of Counsel” relationship between the two firms, effective May 10, 2021. Both... Continue reading
Posted May 20, 2021 at Graber & Johnson Law Group LLC Blog
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Can Estate Taxes Be Avoided with a Trust?
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“The estate tax exemption raised by the Tax Cuts and Jobs Act will sunset in five years—possibly sooner, as the new Congress gears up for a Biden tax overhaul.” If the federal estate tax exemption is lowered, as is expected, it could go as low as $3 million, reports the... Continue reading
Posted May 19, 2021 at Graber & Johnson Law Group LLC Blog
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What Is the Purpose of an Estate Plan?
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“You can reduce stress and expenses for yourself and your family, if you develop an estate plan that includes these important documents.” No one wants to think about becoming seriously ill or dying, but scrambling to get an estate plan and healthcare documents done while in the hospital or nursing... Continue reading
Posted May 19, 2021 at Graber & Johnson Law Group LLC Blog
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Do I Have to Pay Deceased Loved One’s Taxes?
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“When someone passes away, their tax headaches don’t die with them. In fact, those obligations can further complicate the lives of survivors: Federal estate taxes may be due and state inheritance taxes could also come into play.” Sooner or later, someone has to resolve the tax liabilities when a loved... Continue reading
Posted May 18, 2021 at Graber & Johnson Law Group LLC Blog
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What Is a Holistic Estate Plan?
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“No one can predict the future—and navigating that reality is precisely what makes estate planning so complicated.” Estate planning is more than a tax strategy. It’s about creating a legacy and protecting your family for the short and long term, explains the article “Create A Holistic Estate Plan Now For... Continue reading
Posted May 18, 2021 at Graber & Johnson Law Group LLC Blog
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Does an Executor have to Be a Family Member?
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“What happens if you don’t have any family to be personal representative? Other than a family member, who can be personal representative?” Executor, executrix or personal representative, whatever name you use, is the person who will be in charge of your estate and follow the directions in your last will... Continue reading
Posted May 14, 2021 at Graber & Johnson Law Group LLC Blog
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A Trust can Protect Inheritance from Relatives
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“You may love your son-in-law or daughter-in-law now, but that could change down the road. So, if you don’t want your money going to your child’s future ex, here’s what you should do.” It’s always exciting to watch adult children build their lives and select spouses. However, even if we... Continue reading
Posted May 13, 2021 at Graber & Johnson Law Group LLC Blog
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Will Inheritance and Gift Taxes Change in 2021?
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“Facing down an uncertain election outcome and the possibility of tax reform in 2021, many families started transferring substantial amounts of wealth last year, making large gifts to take advantage of the historically high gift and generation-skipping transfer tax exemptions.” Uncertainty is driving many wealth transfers, with gifting taking the... Continue reading
Posted May 13, 2021 at Graber & Johnson Law Group LLC Blog
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Delaying Social Security during COVID can Be Risky
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“The Covid economy has pushed a lot of older workers into early retirement. However, hold off on taking those government checks.” Putting off claiming Social Security until age 70 is one of the best financial strategies for American workers, but only 4% of people born between 1943-1947 were able to... Continue reading
Posted May 13, 2021 at Graber & Johnson Law Group LLC Blog
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What is not Covered by a Will?
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“While a will is one of the most important estate planning documents you can have, there are things that a will won’t cover.” A last will and testament is one part of a holistic estate plan used to direct the distribution of property after a person has died. A recent... Continue reading
Posted May 13, 2021 at Graber & Johnson Law Group LLC Blog
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How Does an Inherited IRA or 401(k) Work?
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“So, you inherited a retirement account. Before you make any decisions on when and how to access the money, it’s worth familiarizing yourself with the rules that apply to different beneficiaries.” The rules for inheriting retirement assets are complicated—just as complicated as the rules for having 401(k)s and IRA to... Continue reading
Posted May 7, 2021 at Graber & Johnson Law Group LLC Blog
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What can a Power of Attorney Do—or Not Do?
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“The person signing the power of attorney, which gives someone else the authority to act for them, is called the ‘principal’ and the person who is given the power to act for you is called your ‘agent.’” Power of attorney is an important tool in estate planning. The recent article... Continue reading
Posted May 6, 2021 at Graber & Johnson Law Group LLC Blog
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Can a Person with Alzheimer’s Sign Legal Documents?
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“Due to the debilitating nature of Alzheimer’s and related forms of dementia on your loved one’s ability to make sound financial decisions, the sooner you can get financial matters in order the better.” If a loved one has been diagnosed with Alzheimer’s disease or any other form of dementia, it... Continue reading
Posted May 5, 2021 at Graber & Johnson Law Group LLC Blog
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How to Protect Digital Property
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“While cryptocurrency isn’t new, it’s attracted a lot of attention in the past year because of its skyrocketing value, promotion from prominent figures like billionaire Elon Musk, and bitcoin offerings from traditional financial firms like Morgan Stanley.” When people built wealth, assets were usually tangible: real estate, investments, cash, or... Continue reading
Posted May 4, 2021 at Graber & Johnson Law Group LLC Blog
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Will Inheritance and Gift Tax Exemptions Change in 2021?
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“The increase in the exemption is set to lapse after 2025. However, the Treasury Department and the IRS issued “grandfather” regulations in 2019 allowing the increased exemption to apply to gifts made while it was in effect, if Congress lowers the exemption after those gifts.” The federal estate and gift... Continue reading
Posted May 3, 2021 at Graber & Johnson Law Group LLC Blog
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