During the 2020 election campaign, President Joe Biden proposed certain changes to the Internal Revenue Code, which among other things, could change the current law on estate and gift taxation. There are two possibilities you should be aware of: the lowering of the estate tax exemption and the elimination of the stepped-up basis on death. The first would affect only … Read More
Why Everyone Needs A Will
Between one-third and two-thirds of Americans do not have a will — a legally binding document that records your wishes about the distribution of your property and assets after your death. Wills are not just about your material things; they are also about people. Wills allow you to name a guardian for minor or disabled children. Wills also allow you … Read More
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A Lesson in Elder Financial Abuse: It Can Happen to Anyone
Larry was 84-years old when he passed away last year. His wife of 62 years died in 2018. His only child, David, lived overseas and he had no other living family. Larry was fiercely independent and was reluctant to ask for assistance with anything. Concerned for his well-being and knowing that he would never consider moving into an assisted living … Read More