Powers of Attorney are part of even the simplest estate plan. A Power of Attorney allows your Agent to act for you. There are Powers of Attorney for financial matters and also those for health care.
Powers of Attorney are part of even the simplest estate plan. A Power of Attorney allows your Agent to act for you. There are Powers of Attorney for financial matters and also those for health care. This article concerns the Healthcare Powers of Attorney and Advance Directives.
As we formed the Leavitt Lunch trust in our first article of this series, we (the grantor/trustor) gave direction to our son(trustee) to buy lunch for the group, and to return and distribute the food among identified beneficiaries, and close the trust by accounting to the grantor (me) and return any remaining funds to the […]
Embed from Getty Images One of the first questions to be asked is who is going to be the trustee. Or in other words, “Who do you trust?” It really all depends on the purpose of the trust. As we spoke last week about a very short term, limited purpose trust, the answer was almost […]
Income tax basis is important in tax and estate planning. This article examines the concept of income tax basis, how one acquires a basis, how it gets adjusted, etc. The article then examines how the basis is subtracted from the sale price to determine gain or loss. The next article in the series will examine how income tax basis is an important factor in estate planning.