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BOO–DON’T LET PROBATE BE A SURPRISE FOR YOU!


I’m often asked why certain assets have to be probated and, correspondingly, what happens to the assets if no probate is opened.  With limited exceptions, when a person dies owning assets in his or her name alone, those assets cannot be transferred to the intended beneficiaries without involving the Courts in a process known as probate.  Probate […]
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When Is It Time to Start Estate Planning?


Estate planning is often thought of something a person should do in their later years.  However, there are a number of reasons why a person should not wait to do his or her estate planning earlier.  The following U.S. News article, aimed at those under 40, provides a number of issues to consider: http://money.usnews.com/money/personal-finance/articles/2013/09/19/estate-planning-tips-for-people-under-40 -Attorney A. Collins […]
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Income Tax Ramifications at Death of Trustor


When a person (“Trustor”) establishes a revocable living trust during his or her lifetime for the Trustor’s benefit and the Trustor is the trustee of the trust, most of the time the trust is not required to file a separate income tax report, Form 1041. When the person creating the trust is also the beneficiary […]
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Plan Plan Plan!!!!


Something a little different for our readers this week, but a great lesson to be had!  Read the following article from msn.com.  Make sure your family is really taken care of. http://money.msn.com/home-loans/c_galleryregular.aspx?cp-documentid=252110956  
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100 Years of Income Taxes


First of all, let me state an opinion; I do not find taxes inspiring. However, in searching the internet for inspiration on something to blog about for this week, I found an article that stated that today, October 3, is the anniversary of the federal income tax. More importantly, the federal income tax was signed […]
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