Category Archives: Trusts

Repeal of Federal Estate Tax?

Donald Trump is on record as favoring the repeal of the federal estate tax. With Republicans controlling the executive, legislative and judicial branches of the federal government, will repeal actually happen? Democrats will filibuster such legislation in the Senate, and … Continue reading

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New IRS Form 8971

On the later of March 31, 2016 or 30 days after the filing of an estate tax return (form 706), for 706s filed after July 31, 2015, the filer is also required to file form 8971 with the IRS and … Continue reading

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Making Sure Your Title Insurance Policy Will Be In Force When You Need It

When real estate is purchased, the buyer typically also buys a title insurance policy. When the buyer later sells, if there is a problem with title to the property, the title insurance company is obligated to take care of it. … Continue reading

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Homestead

Some people have recorded a document entitled homestead indicating that they want a certain dollar amount of the value of their principal residence to be protected from their creditors. Some companies even solicit people to have the company prepare and … Continue reading

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Benefits of a Special Needs Trust

If a child has a disability, he or she may qualify for special programs such as Medi-Cal or SSI. These programs typically require that the child have very little or no assets in order to qualify. Sometimes, the government entity … Continue reading

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Tale of the Trust Protector

An irrevocable trust can designate a trust protector and give him or her certain powers, for example, to change the trustee or to move the trust administration to a different jurisdiction. A trustee is a fiduciary because he or she … Continue reading

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Number of Taxable Estates for Federal Estate Tax Purposes

A taxable estate is one in which the net value after applicable deductions exceeds the dollar amount of the exclusion/exemption  for the year in which the person died. As the exclusion/exemption amount has increased over the years, the number of … Continue reading

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