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From: Accounting Today MARCH 2, 2016 BY SEYMOUR GOLDBERG “Many estate planners recommend that clients create trusts for various reasons, but problems can arise when the trustee is a family member who has no experience regarding the responsibilities of aREAD MORE

An estate under $150,000 in value is not required to pass through probate. Rather, there is a procedure where the heirs sign a Declaration of Small Estate or Small Estate Affidavit, which they can deliver with a death certificate toREAD MORE

While it’s never easy to deal with the death of a family member, you may not have much time to grieve before handling their affairs, if they had a Reverse Mortgage on their house. Reverse Mortgages are regulated by theREAD MORE

A bond is a form of insurance to replace assets that may be mismanaged or stolen by the estate’s personal representative. The bond protects the beneficiaries, heirs, and creditors of the estate. The cost of the bond is paid fromREAD MORE

The Estate and Gift Tax law changes for 2017 are not as drastic as previous years. The federal estate tax exemption, an amount that an individual can leave to heirs without having to pay federal estate tax, increased to $5,490,000READ MORE

If you have been nominated and are acting as Trustee, you are acting as a “fiduciary” and have many duties as Trustee. Below is a list of key duties of a Trustee: Duty to identify and locate Trust assets. DutyREAD MORE

A trust is an arrangement involving three parties. You, the “Trustor”, transfer property to a “trustee” who will hold or manage the property for your “beneficary”. You can setup a revocable trust in which you remain in control of theREAD MORE

A variety of financial strategies have allowed for perhaps America’s richest family, the Waltons, to hold onto its money going well into a second generation. This has been done in part by the placing of the vast wealth into trustsREAD MORE

As there are so many matters that need to be taken into consideration in estate planning, there is not one simple measure that will meet all of an individual’s estate planning needs. Therefore, when helping out clients in estate planningREAD MORE

After the death of a family member, it can be difficult to confront the reality of handling their affairs. We are sympathetic to your feelings and will show compassion at every step of the process. Our firm provides checklists designedREAD MORE