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Author: kcspees

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Death Check list:

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Here is a list of what to do when your loved one passes away.   If this is not an emergency situation, sit back, take your time and breath. Notify a doctor, coroner or local police officer that the person has died, herein after called decedent. Look for the decedent’s trust and will and look […]

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The New Estate Tax Exemtion 2018

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As of January 1, 2018 the federal estate tax exemption amount is $11,200,000 for individuals and double that for married couples!  This number is projected to fall in 2025 back to $5,490,000.   This means that you can give away 11 Million without your beneficiaries paying an estate tax. The gift tax exemption amount also increased […]

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Domestic Asset Protection Trust

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An alternative to titling your property into an LLC is to title it into a Domestic Asset Protection Trust.  Our favorite is the Nevada Self-Settled Spendthrift Trust.  The State of Nevada passed several laws in 1999 which allow for the use of this type of trust and in 2009 more laws were passed which provide […]

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5 ways to give your home away tax-free

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1.  Keep it until you die.   If your estate is below the unified tax credit, currently $4.49 million in 2017, when you die the property tax basis will be STEPPED UP to fair market value, saving your children capital gains taxes on the appreciation. 2. Give it to your kids now for free.  You can give your […]

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10 Ways to Avoid Capital Gains Tax Legally

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A capital gain is a profit made from selling an asset such as a stock, bond or real estate.  The U.S. government taxes capital gains at different rates.  Short-term capital gains (held one year or less) are taxed at your normal tax rate.  Long-term capital gains (held over a year) benefit from a reduced tax […]

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Have you updated your Trust since 2004?

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DOES THE NAME TERRI SCHIAVO RING A BELL?  All of us watched the unfortunate events on the news BACK THEN involving one family’s struggle with the right to die with dignity.  Regardless of how you felt about that situation, everyone agrees your wishes should be stated in your estate planning documents.  Because of a change in […]

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Special Needs

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Do you have a child, relative or friend that is receiving government benefits?    If they receive any type of inheritance this may disqualify that person from receiving government benefits leaving them with a small inheritance with no help from the government.   A special needs section in your trust can provide for someone receiving […]

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Getting started

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We want to help your family avoid court when you die or become incapacitated. You need several estate planning documents to ensure that your assets will not have to go to probate. Click on the “living trusts” button to learn about each document. What makes us different from other law firms is that our documents […]

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Do I need a Will or Trust?

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What will happen if you have no Will or Trust:  If you die without a Will or Living Trust the state will decide what happens to your property through a process called Probate.  Your property will be distributed to your spouse and/or children or your closest relative or it may be given to the state.   […]

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