Gift taxes and estate taxes are only applied if your bequeathed assets exceed a certain dollar amount. Here’s a look at what the unified tax credit is, how it relates to gift or estate taxes and who this credit impacts.
12/15/22 • by: The Law Office of John A. Laine, P.C.
Most of us would like to live and age in our current homes. More than 3 in 4 people — 77 percent — agree with the statement, “I’d really like to remain in my community for as long as possible,” according to AARP’s “Home and Community Preferences Survey”. Unfortunately, as we age declining health and finances […]
12/13/22 • by: The Law Office of John A. Laine, P.C.
Failing to properly plan for disability, death, or the ultimate transition of a family business can lead to disastrous financial consequences for both the business and the family.
12/09/22 • by: The Law Office of John A. Laine, P.C.
From contentious relatives to scam artists, wills are not immune to the threat of a contest. If you have an inkling such a fight could be in your estate’s future, here are some ways to limit the risk.
12/09/22 • by: The Law Office of John A. Laine, P.C.
As the American population of seniors continues to expand, the need for intentional estate planning becomes more urgent, especially for the children of aging parents.
12/02/22 • by: The Law Office of John A. Laine, P.C.
In early 2022, Bloomberg News reported that Americans can expect to inherit $72.6 trillion over the next quarter century—more than twice as much as a decade ago. With so much potential generational wealth on the line, there is always a risk that it will become the subject of a dispute.
12/02/22 • by: The Law Office of John A. Laine, P.C.
Overlooking an important step or making a blunder can derail all your careful planning, leaving your heirs and beneficiaries with a headache-inducing challenge.
12/02/22 • by: The Law Office of John A. Laine, P.C.
If you tend to be a night owl, you may want to take some notes. That’s because a recent study published in JAMA Psychiatry found people who consistently get up early and remain active throughout the day tend to be happier and mentally stronger, especially in older age, when compared to people with irregular daily activity patterns.
11/25/22 • by: The Law Office of John A. Laine, P.C.
We’re all looking to save taxes, court costs, legal fees and ‘make it simple’ for our heirs. A last will and testament is the cornerstone of all estate planning, maybe with a trust.
11/25/22 • by: The Law Office of John A. Laine, P.C.
