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Estate Tax Returns — Not as Scary as They Sound

Fri 12 Mar, by on Estate Planning, Probate

Estate Tax Returns — Not as Scary as They Sound

When an individual passes away, tax issues are one of the many things that must be considered. For most individuals who pass away, a final income tax return must be filed with the Internal Revenue Service (IRS) and state (if the particular state also taxes income) to settle any income tax liability that may exist. Much less commonly, a federal estate tax return and state estate tax returns (if the state has an estate tax …

Talking To Mom and Dad About Creating an Estate Plan

Fri 5 Mar, by on Estate Planning, Probate

Talking To Mom and Dad About Creating an Estate Plan

Conversations about death and dying are never fun. Most people avoid them because they invoke feelings about our inevitable demise. Broaching this subject can be particularly difficult for parents and their adult children. Adult children may avoid bringing up the topic because they do not want to think about their parents’ mortality, and they may also want to avoid sounding as though they are waiting for their parents to die. Despite these valid challenges to …

What To Do When a Loved One Dies Abroad

Thu 25 Feb, by on Estate Planning, Probate

What To Do When a Loved One Dies Abroad

The death of a loved one can be one of the most disorienting life events. But if the loved one dies while traveling in a foreign country, the emotional and bureaucratic burdens can multiply exponentially. Contact the United States Bureau of Consular Affairs If foreign local authorities report a death to a US embassy or consulate, the United States Bureau of Consular Affairs located in that country will attempt to identify and contact the next …

The Benefits of Preparing an Inventory before Death

Fri 19 Feb, by on Estate Planning, Probate

The Benefits of Preparing an Inventory before Death

If you have already done your estate planning, you have taken a significant step toward ensuring that your loved ones will know how to manage your affairs if you become incapacitated or die. However, simply having a will or a trust and related estate planning documents is often not enough. A detailed inventory of all of your accounts and property is crucial for helping your loved ones manage your legal and financial affairs effectively. Most …

Reviewing Your Estate Plan After the Death of a Loved One

Fri 12 Feb, by on Estate Planning, Probate

Reviewing Your Estate Plan After the Death of a Loved One

The death of a loved one is never easy. Regardless of your relationship with the deceased (blood relative, life partner, or close friend), you need space and time to process and grieve your loss. Once you have had time to cope with all that has happened, you should consider updating your estate plan in light of your loved one’s death. We are here to guide you through the main areas of focus of your review. …

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