By: Sam Skorepa As the novel coronavirus (COVID-19) continues to spread across the United States, we’re all grappling with feelings of uncertainty as we face unprecedented upheaval in nearly all aspects of our lives. All at once we have been forced to confront and acknowledge the frailty of life as we know it and many…
By Tim Gulbranson Over the past two weeks, my colleague, Kyle Day, has waxed poetic about how his tax expertise has made him the beau of the ball in social gatherings. However, despite Kyle’s giddiness over the most recent individual and corporate tax changes, even he has to admit tax-cut legislation is nothing new, and…
By: Sam Skorepa With Donald Trump being sworn in as the 45th President of the United States last week and Republican control of both the House and the Senate, the next four years seem ripe for major changes to the Estate and Gift Tax transfer system. As a candidate, President Trump previously proposed the repeal…
The following is an article discussing the various components and process of completing a will or estate plan, featuring commentary from Lane & Waterman attorney, Diane Puthoff and republished with permission from The Catholic Messenger, by Anne Marie Amacher, Davenport, Iowa. Whatever your age, a written will states exactly how you want your assets to be…
By Tim Gulbranson Introduction This past June I wrote and posted on this blog about the potential that the IRS would release new regulations on the use of Family Limited Partnerships (FLP) or Family Limited Liability Companies (FLLC) as an estate planning strategy to help shrink or eliminate a high-net worth individual’s federal estate tax…
Are you part of the 90% of adults without an estate plan? Estate planning attorney Sam Skorepa provides the information below in this un-blog post about the importance of planning for the future.
By: Tim Gulbranson On May 6, the Treasury Department Office of Tax Policy announced that it plans to issue proposed regulations for Internal Revenue Code Section 2704, which regulates property valuation held by a “Family Limited Partnership” (FLP) or “Family Limited Liability Company” (FLLC). Because of the current regulatory language’s inability to successfully execute the…
By: Diane Puthoff This week, we’re starting a series called, “Need to Knows,” where we’ll cover common topics our clients ask our attorneys. First on the docket: what survivors need to know after the death of a spouse. Tragedy hits your family when you least expect it…suppose your spouse dies in a tragic accident or…
By: Sam Skorepa 92% of adults under the age of 35 do not have a Will. That is a staggering statistic, collected during a 2011 Harris Interactive survey, which begs the question – Why? There are many reasons why you may not engage an attorney to draft an Estate Plan. Cost, lack of assets, and…
By: Kyle Day The season to Netflix Turbo Tax and chill has arrived, and efforts to eFile before someone else does (fraudulently) on your behalf are underway. In case you hadn’t considered it before, the IRS recently released a Fact Sheet outlining several reasons why the 2015 tax return season may just be the best…
By: Sam Skorepa What to do with our assets after death is often a difficult topic to discuss. The delicate nature of this discussion and the many activities that compete for our time make estate planning fall to the bottom of our to do lists. Individuals often inquire about estate planning only after significant life…
