Deceased talk-show host Larry King’s family is currently embroiled in a multi-million dollar lawsuit over his estate. Not only is the litigation likely to be divisive and expensive, it is being aired publicly. How did this all come about, and could it have been managed in a better way? Here are the facts as reported…
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Did you know that the digital content you maintain in your computer or online is considered to be your personal property? Since 2015, with the passage of the Revised Uniform Fiduciary Access to Digital Assets Act (RUFADAA) by the Uniform Law Commission, most U.S. states including California consider these so-called digital assets to be no…
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When it comes to estate planning, trusts are most commonly used for transferring assets after death to heirs or charities in order to avoid the cost, visibility, and potential delays associated with having only a will. But did you know that trusts can be used to transfer assets to others while you’re still alive? And…
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One of the most tax-beneficial estate planning changes in recent history was the ability to transfer an unused estate tax exemption from a deceased spouse to his or her surviving spouse. Introduced by the Obama administration in 2011, this capability, known as portability, significantly changed the way trusts are written to shelter estates from estate…
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IRAs are among the simplest and best ways to transfer wealth to heirs. In effect, you are not simply passing on a chunk of money, but rather a chunk of money with future tax-deferred or tax-free growth embedded. However, if you are the beneficiary of an IRA, it’s important that you take the right steps…
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If you’re a high net worth individual or family, chances are your estate planning strategy has focused on finding ways to exclude assets from your estate in order to minimize estate transfer taxes after you pass away. Gifting low-basis property while alive together with the use of bypass trusts after death are common ways to…
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