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On Behalf of Cushing & Dolan, P.C. | Aug 12, 2013 | Estate Taxes
It sounds like a bad estate planning dream. Is it really possible that the IRS would try to collect estate tax from a beneficiary more than a decade after the death of a parent who was trying to pass his estate along to his children? The answer, unfortunately, is yes....
On Behalf of Cushing & Dolan, P.C. | Jul 31, 2013 | Trusts
It isn't easy being a parent. Even if all goes well, taking care of a child requires a major commitment of time, energy and money. But what happens when a child has special needs? When that is the case, parents need creative strategies to make sure that a child...
On Behalf of Cushing & Dolan, P.C. | Jul 26, 2013 | Wills
Imagine you are one of two siblings, and your mother is nearing the end of her life. For a good portion of your life, you and your mother did not get along -- in fact, you barely spoke. But as time passed, you two realized that putting your differences aside was best...
On Behalf of Cushing & Dolan, P.C. | Jul 15, 2013 | Trusts
Trusts are creative instruments designed to respond intelligently to specific situtations. They've been around in various forms for hundreds of years. But the effectiveness of particular types of trusts varies over time. A current example of this is the qualified...
On Behalf of Cushing & Dolan, P.C. | Jul 8, 2013 | Powers Of Attorney
It isn't easy for a child to watch a parent getting old. For many families, a tipping point can come when the roles get reversed: parents, who once provided the care, are now in need of it themselves. Of course, the type of care arrangement required varies from family...
On Behalf of Cushing & Dolan, P.C. | Jul 1, 2013 | Estate Taxes
Trusts and estates is one of the most traditional areas of the law. But the law regarding same-sex couples is changing fast, creating new structures that will give rise to new traditions. Last week's U.S. Supreme Court decision striking down key elements of the...
On Behalf of Cushing & Dolan, P.C. | Jun 24, 2013 | Estate Administration & Probate
There are many good reasons to put in place a sound estate plan. Certainty about the transmission of property to the desired beneficiaries in a timely manner is primary. Estate tax considerations and other factors also often play a role. In other words, people in the...
On Behalf of Cushing & Dolan, P.C. | Jun 17, 2013 | Wills
When family members begin to get older, it might be time to consider having a discussion about what they want to happen should they encounter health problems in the future. This allows the person to express their wishes about the care that they should receive, which...
On Behalf of Cushing & Dolan, P.C. | Jun 10, 2013 | Trusts
People with special needs do not only need lots of hands-on care. They also need intelligent strategies for an appropriate party to manage the money available for their care. In practice, this may mean helping a disabled individual by setting up a special needs trust....
On Behalf of Cushing & Dolan, P.C. | Jun 3, 2013 | Trusts
When aging and chronic health concerns are involved, there is no easy answer to estate planning questions. If the ability to perform daily tasks becomes badly compromised, long-term care may be necessary. But as we discussed in our March 13 post, the sticker shock...