The person who was paid must not have been reimbursed by their insurance company. Reimbursed amounts do not qualify for eligibility under the unlimited medical exclusion tax-free gift category.
Category Archives: Inheritance
09
Jul
Jul
Planning to Receive an Inheritance Estate planning makes most people think about preparing accounts and property for loved ones. The goals include working in a tax-efficient way. Tax advisors protect clients from probate and disgruntled heirs. Also, they watch out for beneficiaries’ creditors, divorcing spouses, bankruptcy, and more. Finally, they try to prevent poor spending […]
Assets, California Law, Estate Planning, Inheritance, Taxes
Inheritance: Leave Gifts for Grandchildren
25
Jun
Jun
From a practical perspective, the grandchildren’s parents often understand how to use the money for the benefit of their children. What’s more, they may spend or invest it appropriately on their children’s behalf.
Assets, Estate Attorney, Estate Planning, Heirs, Inheritance, Trustee, Trusts
Irrevocable Life Insurance ILIT Trusts
04
Jun
Jun
Even if Congress fails to act, in 2026, the current rate sunsets. This cuts rates in half to about $6 million per individual. This blog post discusses ILIT Trusts. So, read on.
07
May
May
Although you may not own millions, your estate needs a proper legal plan, or an estate lesson plan. Estate is a general term referring to everything you own.
Assets, California Law, Estate Planning, Heirs, Inheritance, Trusts, Uncategorized
Disinherit Your Children?
30
Apr
Apr
Regardless of why a parent would disinherit a child, they should not disinherit as a tool to manipulate. Disinherited children may feel angry. This could lead to turmoil within the family.
10
Apr
Apr
Making your partner a joint owner iseasy. Simply give them immediate access to and control over an account or property. Keep the account or property owned jointly, with the right of survivorship.
California Law, Estate Attorney, Estate Planning, Heirs, Inheritance, Trusts
Inheritance: Don’t Give it to Creditors
26
Mar
Mar
An SRT is a special type of trust. It designates the intended beneficiary of your retirement accounts after you die.
19
Mar
Mar
No matter the month, wedding planning usually includes tuxedos, dresses, rehearsal dinners, guest lists, and the honeymoon. However, too many couples fail to consider an important element that should make every “to do” list – a couples estate plan.
05
Mar
Mar
Many parents express concern their in-laws becoming outlaws. Their children may divorce. In this case, a divorcing spouse could seize their children’s inherited money and property .