Taxes

13 Dec IS ESTATE TAX REPEAL ON THE HORIZON WITH TRUMP’S ELECTION?

Posted at 17:00h in Business, Charitable Giving, Estate Planning, Inheritance, Michael Cohen Dallas Elder Lawyer, Taxes, Transfer of Death

Donald Trump’s election will likely result in a proposal to eliminate estate tax as part of an overall tax reform package. However, the passage of such a bill and the compromises needed to make such a change will likely evolve over time – although the...

12 Oct HOW MUCH CAN AN EXECUTOR BE PAID?

Posted at 17:42h in Estate Planning, Michael Cohen Dallas Elder Lawyer, Taxes, Wills

A common question of executors is how much they are entitled to for serving as an executor (someone who is responsible for gathering or collecting the resources belonging to the estate or to which estate is entitled, selling property of the estate, paying all bills,...

26 Aug SHARP DIFFERENCES IN PRESIDENTIAL CANDIDATES PROPOSED ESTATE TAX CHANGES

Posted at 22:54h in Asset Protection, Divorce, End of Life Care Planning, Estate Planning, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Taxes, Transfer of Death, Trusts

Although it is unlikely that the proposed estate tax change of either presidential candidate will be enacted as is, there is a stark contrast which should be considered for those interested in estate planning. If Clinton’s estate tax proposals were to become effective, there would be...

28 Jul ARE ESTATE PLANNING LEGAL FEES TAX DEDUCTIBLE?

Posted at 09:12h in Business, Estate Planning, Michael Cohen Dallas Elder Lawyer, Taxes

Although this author is not an accountant (and one should discuss his or her own individual tax situation with his or her personal accountant), I am often asked if estate planning fees are tax deductible. The answer is sometimes it is, and sometimes it is...

07 Apr Bad Decision on Converting Roth IRA in 2015? It’s Not Too Late to Undo

Posted at 14:38h in Elder Justice, Michael Cohen Dallas Elder Lawyer, Taxes

Many Americans probably converted to a Roth IRA to take advantage of the tax-free growth without the requirement of minimum distributions after one reaches 70 ½ years of age. Of course, one of the requirements is to take income taxes on the amount converted. So, for...

28 Jan Veteran’s Improved Pension Benefits under Attack by New Congressional Bill

Posted at 09:18h in Asset Protection, Assisted Living, Disability Benefits, Michael Cohen Dallas Elder Lawyer, Nursing Home, Social Security, Taxes, Trusts, Veterans

On January 8, 2016, the “Veterans Care Financial Protection Act of 2016” was introduced allegedly to protect individuals who are eligible for increased pension under laws administered by the Secretary of Veterans Affairs on the basis of need of regular aid and attendance from “dishonest,...

14 Jan Court Rules that Father Cannot Marry his Son

Posted at 08:00h in Beneficiary, Inheritance, Michael Cohen Dallas Elder Lawyer, Taxes

A Pennsylvania court recently ruled that a man who had adopted his same sex partner as his son in 2012, cannot annul his adoption so that he could marry his partner (adopted son). Prior to the U.S. Supreme Court decision which prohibited the ban by states...

02 Sep The Truth About 401(k)s

Posted at 06:00h in 401(k), Business, Estate Planning, Guardianship, Retirement, Taxes

By Rick Foster Putting money in a 401(k) is the right thing to do, isn't it? Yes! No! Maybe? Surprisingly, the answer to that question may not be as simple as it seems. What is a 401(k)? In the late 1960s due to market volatility and the realization...

Taxes

13 Dec IS ESTATE TAX REPEAL ON THE HORIZON WITH TRUMP’S ELECTION?

12 Oct HOW MUCH CAN AN EXECUTOR BE PAID?

26 Aug SHARP DIFFERENCES IN PRESIDENTIAL CANDIDATES PROPOSED ESTATE TAX CHANGES

28 Jul ARE ESTATE PLANNING LEGAL FEES TAX DEDUCTIBLE?

07 Apr Bad Decision on Converting Roth IRA in 2015? It’s Not Too Late to Undo

14 Jan Court Rules that Father Cannot Marry his Son

02 Sep The Truth About 401(k)s

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Taxes

13 Dec IS ESTATE TAX REPEAL ON THE HORIZON WITH TRUMP’S ELECTION?

12 Oct HOW MUCH CAN AN EXECUTOR BE PAID?

26 Aug SHARP DIFFERENCES IN PRESIDENTIAL CANDIDATES PROPOSED ESTATE TAX CHANGES

28 Jul ARE ESTATE PLANNING LEGAL FEES TAX DEDUCTIBLE?

07 Apr Bad Decision on Converting Roth IRA in 2015? It’s Not Too Late to Undo

28 Jan Veteran’s Improved Pension Benefits under Attack by New Congressional Bill

14 Jan Court Rules that Father Cannot Marry his Son

07 Nov STAGGERING INCREASE IN MEDICARE PART B PREMIUMS AVERTED BY CONGRESSIONAL BUDGET DEAL

09 Sep Happy 80th Birthday Social Security!

02 Sep The Truth About 401(k)s