Turkey. Done. Pie. Done. Black Friday. Done. Next? December. But first, our review of elder law items of interest from November: Estate & Tax Planning The estate tax exemption will take a relatively big jump in 2023. It increases to $12.92 million per person from $12.06 million in 2022. That’s an extra $860,000 to plan …
Something surprising happened in 2021: Estate tax revenue increased. Though the estate tax exemption has never been higher, the amount collected almost doubled from 2020 to 2021, from $9.3 billion to $18.4 billion, recent IRS data indicates. Experts suspect it’s the combination of pandemic death rates and market gains in stocks and real estate. Some …
Boo. Here’s your Halloween edition of our monthly review of developments in elder law. Some are scary, but others not so much. The IRS: Not So Scary? We may another year to figure out RMDs from inherited IRAs. The SECURE Act changed the payout requirements for a decedent’s IRA, and many were surprised when the …
Americans are romantically optimistic. People keep getting married, even though almost 50% of marriages end in divorce. Estate planning for second, third, fourth marriages can be delicate, especially if there are children from prior relationships. The “blended family” estate plan has a number of special challenges. Among scenarios to consider: Stepchildren: Just Like My Own …
Can an emailed will be a will? That’s the question at the center of a dispute between actress Anne Heche’s son and her former significant other. Heche died in August at age 53. Shortly after, her 20-year-old son, Homer Laffoon, petitioned a California court to be named executor to administer her estate and for the …
Emailed ‘Will’ at Center of Heche Estate Dispute Read More »
It’s almost the end of the month, which means it’s time for our monthly review of elder law news and developments. Normally, we survey a broad elder law landscape, but this September review is not normal: Queen Elizabeth has died. That leaves many wondering who inherits her $500 million fortune. So we spend much of …
Most people think estate planning is all about what happens when a person dies. It is, but it’s also important for the living. One special case: When you realize you need protection from yourself. Maybe you have a mental illness and can’t always be attuned to financial matters. Maybe you have a family history of …
September is almost here, which means it’s time to look back at the past month’s developments in elder law. For the August review: August Review: Celeb Estates There’s more celebrity estates news than we’ve can ever recall seeing in a single month. We already wrote about Anne Heche’s tragic death, and here are more celeb …
Actress Anne Heche died last week at 53 after a fiery crash. Her tragic end was a lifeline to others. She was an organ donor. Heche was declared brain dead on August 12. She was “peacefully taken off life support” on August 14, after a suitable transplant recipient was found. Her family revealed that it …
Yet another celeb estate is making headlines. This past week, news outlets shared painful news: Naomi Judd left her famous daughters Ashley and Wynonna out of her will. The problem is, nothing in the reporting suggests that’s the case. Famous singer Naomi, who died by suicide in April, apparently did have an estate plan that …
Naomi Judd Probably Didn’t Disinherit Ashley & Wynonna Read More »
