Month: December 2022
Exemption of IRAs from Creditors Means EXEMPT… or Does It?
Araguel v. Bryan illustrates the intersection of guardianship law, individual retirement accounts ("IRAs") and payment of guardianship expenses from the incapacitated individual's (the "ward") IRA after the ward's death. In October of 2019, Patrick and Leslie,...
Good News for Procrastinators Making the Portability Election
In 2010 Congress enacted legislation which provides for the portability of a decedent's spouse unused exclusion amount ("DSUEA). For example, if Bob dies with 12 million in unused exclusion amount (equivalent to 4.8 million in estate tax savings), his surviving spouse...
It can harm your family if you die without a will
There are many reasons why you may be reluctant to begin the estate planning process. You may not want to consider your own mortality, or you may not believe that you have enough wealth to justify the effort. In reality, estate planning is beneficial for everyone,...