Our New Jersey readers have already heard about the upcoming expiration of the $5.12 million federal estate tax exclusion amount. That number will drop back down to $1 million if Congress fails to act by the end of the year. At this point, it isn't clear exactly what...
Month: August 2012
Without an estate plan of your own, state uses one-size-fits-all plan
On behalf of Michael A. Manna & Associates | Aug 29, 2012 | Estate Planning
Our readers may not be aware of it, but everybody has an estate plan, whether they want it or not. Did you know that? That's right. If you choose not to work with an attorney to get your affairs in order, you still have an estate plan provided by the state. That plan...
Thomas Kinkade’s late girlfriend faces uphill battle in will contest
On behalf of Michael A. Manna & Associates | Aug 24, 2012 | Probate
In a previous post, we wrote about the death of Thomas Kinkade earlier this year. As we noted, the 54-year-old painter died of accidental alcohol and Valium overdose, leaving behind over $66 million. Not long after his death, his estranged wife of 30 years and his...
Business owners should consider making gifts before end of year
On behalf of Michael A. Manna & Associates | Aug 22, 2012 | Estate Planning
In our last post, we spoke about the importance of reviewing one's estate plan periodically to ensure it keeps up with current law and continues to serve one's needs. We named five different events that should prompt the review of one's estate plan. A recent article...
Estate plan should be review upon occurrence of important events
On behalf of Michael A. Manna & Associates | Aug 14, 2012 | Estate Planning
While many people know, at least in theory, the value of getting estate planning documents in place, even fewer people understand the importance of ongoing estate planning. Good estate planning is not a one-time event, but an ongoing process. Decisions made in the...
Advantages of setting up asset protection trusts in Alaska, P.1
On behalf of Michael A. Manna & Associates | Aug 10, 2012 | Asset Protection
Self-settled trusts, or asset protection trusts, are an important tool to be aware of when going through the estate planning process. In self-settled trusts, the grantor and the beneficiary are the same person.In these arrangements, the trust assets are protected from...
California case causing estate planning attorneys to change approach to trust formulas, P.2
On behalf of Michael A. Manna & Associates | Aug 8, 2012 | Estate Tax
In our previous post, we began looking at a case in which a court ruled to be invalid a trust amendment executed shortly before the death of a woman. That trust setup, as we noted, contained a formula clause intended to utilize the full exclusion amount and minimize...
California case causing estate planning attorneys to change approach to trust formulas, P.1
On behalf of Michael A. Manna & Associates | Aug 1, 2012 | Estate Tax
A recent probate case out of California demonstrates the importance of foresight in estate planning. In that case, a couple had set up a trust in order to minimize estate taxes, and made use of a device called a formula clause, which allows typically divided the...
Categories
- Asset Protection (51)
- Blog (4)
- Estate Planning (364)
- Estate Tax (78)
- Injuries (1)
- Medicaid Planning / Nursing Home Planning (38)
- Probate (53)
- Trusts (30)
- Uncategorized (22)
- Wills (21)
Archives
- January 2021 (1)
- October 2020 (1)
- August 2020 (1)
- July 2020 (1)
- May 2020 (1)
- March 2020 (1)
- January 2020 (1)
- November 2019 (1)
- September 2019 (1)
- August 2019 (1)
- June 2019 (1)
- April 2019 (1)
- February 2019 (1)
- December 2018 (1)
- October 2018 (1)
- September 2018 (1)
- July 2018 (1)
- May 2018 (1)
- March 2018 (1)
- January 2018 (1)
- November 2017 (1)
- October 2017 (1)
- August 2017 (1)
- June 2017 (1)
- April 2017 (1)
- February 2017 (1)
- January 2017 (1)
- December 2016 (1)
- November 2016 (1)
- September 2016 (1)
- July 2016 (1)
- May 2016 (1)
- March 2016 (1)
- February 2016 (1)
- January 2016 (4)
- December 2015 (8)
- November 2015 (9)
- October 2015 (6)
- September 2015 (9)
- August 2015 (9)
- July 2015 (10)
- June 2015 (7)
- May 2015 (9)
- April 2015 (8)
- March 2015 (9)
- February 2015 (8)
- January 2015 (10)
- December 2014 (9)
- November 2014 (8)
- October 2014 (9)
- September 2014 (8)
- August 2014 (9)
- July 2014 (9)
- June 2014 (8)
- May 2014 (9)
- April 2014 (9)
- March 2014 (8)
- February 2014 (9)
- January 2014 (9)
- December 2013 (9)
- November 2013 (7)
- October 2013 (11)
- September 2013 (7)
- August 2013 (9)
- July 2013 (9)
- June 2013 (9)
- May 2013 (10)
- April 2013 (8)
- March 2013 (6)
- February 2013 (9)
- January 2013 (10)
- December 2012 (8)
- November 2012 (9)
- October 2012 (8)
- September 2012 (8)
- August 2012 (8)
- July 2012 (7)
- June 2012 (8)
- May 2012 (9)
- April 2012 (9)
- March 2012 (10)
- February 2012 (7)
- January 2012 (10)
- December 2011 (10)
- November 2011 (9)
- October 2011 (8)
- September 2011 (9)
- August 2011 (9)
- July 2011 (8)
- June 2011 (9)
- May 2011 (10)
- April 2011 (9)
- March 2011 (9)
- February 2011 (8)
- January 2011 (8)
- December 2010 (10)
- November 2010 (9)
- October 2010 (9)
- September 2010 (8)
- August 2010 (8)
- July 2010 (9)
- June 2010 (6)