Month: May 2021
Probate answers questions your loved one leaves behind
After someone dies, there are many steps loved ones must take before they can move on with their lives. Naturally, this includes making plans for a funeral or memorial, and it certainly involves taking time for the grieving process. However, one part of closing one...
When Does 75% plus 25% NOT Equal 100%… When the Tax Court Rules!
In the recent case of Estate of Miriam Ward v. Commissioner, T.C. Memo. 2021-017 (Feb.18,2021), the Tax Court ruled that a charitable deduction to charities was valued at a discount even though 100% of the charitable amount was given to charities. Thomas ("Tom") and...
Which Controls? The Partnership Agreement or the Will?
In Finlaw v. Finlaw, the court determined that a provision for disposition of a partnership interest overrode the terms of a decedent's Last Will and Testament. The decedent, Twila, together with her husband and the Palmers, entered into a partnership agreement (the...