A common question that I’m asked involves which expenses the estate can and should pay when a loved one dies. The question sounds something like this: “Craig, my father just died and I’m his personal representative. I’m flying in my wife and children, my sister and her family are all coming too. Can I pay [...]
Growing up, one of my favorite relatives was my Aunt Libby – who was a real pistol. Those of you who are Hoosiers and who ever frequented Libby’s Deli at the downtown Indianapolis City Market (Governor Bowen and Mayor Lugar could often be found at the lunch counter munching on Libby’s famous Bar-B-Q sandwiches) would [...]
Madison, my youngest daughter – asked me if she could go over to a friend’s house. I told her that she could - only to be vetoed by Patti. “She didn’t clean up her room like I asked her to,” Patti said. “And I don’t think that she should be able to go over to [...]
Let me start the new year off with one of the most common questions I encounter in my practice. That question goes something like this, “I’m not a millionaire and my estate is not taxable, so I don’t need a trust do I?”
Whether you would benefit from a revocable living trust does not really have [...]
Last week I wrote about the uncertainty surrounding whether and how the federal estate tax might be extended into 2010 and beyond. As of January 1st without further legislation being enacted the federal estate tax disappears for one year, only to be replaced with a capital gains tax system that is difficult for lay people [...]