Knowing how your home is titled is the first step in avoiding an unwanted probate. Talk to an estate planning attorney at Stone Law Offices,
My sister, her husband and I own an S Corporation with 25%, 25% and 50% ownership, respectively. The S Corporation invests in rental properties. My brother-in-law passed away earlier this year, so does my sister get a step-up in basis for her husband’s portion?
If you have been thinking about making large gifts to take advantage of the current $11,700,000 lifetime federal estate tax exemption, you have probably been contemplating a spousal lifetime access trust, commonly known as a SLAT.
We may think of a spoiled heiress to a large fortune, whose parents were savvy enough to prevent her from having full access to her funds. On the other hand, we could imagine a loved one with special needs, whose needs will be provided for with trust-protected money.
If you have updated your estate plan during the Covid crisis and even found a way to sign your documents while maintaining social distance, do not overlook the last step of trust funding.
Generally, if you own property, have life insurance and/or have other assets which total over $150,000 (including life insurance and real property), you are a candidate for asset protection.
The ongoing pandemic has made everyone have to face some unpleasant realities, including the idea that one day we won’t be here anymore. Do you know how to make sure that your affairs are in order for your loved ones?
If you have a question, a comment, or simply want to have a conversation and explore how we can help, we’d love to hear from you.
8970 W. Cheyenne Ave., Ste. 110
Las Vegas, NV 89129
Email: info@nvestateplan.com
Phone: 702-998-0444
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