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On Behalf of Cushing & Dolan, P.C. | Feb 14, 2013 | Elder Law
Generational transfers of wealth do not only go one way. To be sure, the usual pattern is parents passing along assets to children and other heirs. This is done through wills, trusts, gifts and other estate planning devices. With people living longer than ever,...
On Behalf of Cushing & Dolan, P.C. | Feb 8, 2013 | Estate Planning
Historically, discussions of estate planning have tended to most often involve married couples or the needs of families. Single people have often been overlooked. With so many adults who are unmarried, however, an emphasis on estate planning that includes single...
On Behalf of Cushing & Dolan, P.C. | Dec 21, 2012 | Retirement Planning
Creating an estate plan is often much more than deciding what property should go to whom. Usually, a person must think about his or her own future in addition to what should happen to the estate. For example: What should happen when you reach an age where you are...
On Behalf of Cushing & Dolan, P.C. | Dec 14, 2012 | Estate Planning
In 2012, Americans could give up to $5.2 million worth of gifts before being taxed 35 percent on additional gifts. Next year, that amount drops to $1 million and gift-givers may face a tax rate of up to 55 percent. While it is possible that Congress will extend the...
On Behalf of Cushing & Dolan, P.C. | Oct 8, 2012 | Estate Planning
Persons who expect to leave behind a large estate may prefer to set up distribution and management of their estate following their death in the form of a trust. It is a good way to leave property and assets to heirs, but any trust needs to be carefully constructed and...
On Behalf of Cushing & Dolan, P.C. | Sep 10, 2012 | Estate Planning
Estate planning is the process of legally designating who will receive your money and property when you die. Traditionally, women may not have been as actively involved in estate planning, but in current times every woman should meet with an experienced estate...
On Behalf of Cushing & Dolan, P.C. | Aug 13, 2012 | Estate Planning
If you're considering taking advantage of the gift tax exemption as part of your estate planning, you should be aware that the current $5.12 million break might expire at the end of the year. In 2010, Congress and President Obama agreed upon the $5 million gift tax...
On Behalf of Cushing & Dolan, P.C. | Jul 16, 2012 | Estate Planning
As Virginia residents know, death is a part of life that everyone must deal with at some point. After death, everyone has an estate that loved ones must manage. Having an effective estate plan can aid family and friends when the time comes. It is important to set up...
On Behalf of Cushing & Dolan, P.C. | Jun 18, 2012 | Estate Planning
Sometimes people try to settle their financial matters themselves before passing away. Although this do-it-yourself estate planning is performed dutifully and with the best of intentions, it may actually lead to complications for the fiduciaries or beneficiaries later...
On Behalf of Cushing & Dolan, P.C. | May 21, 2012 | Estate Planning
People who have diverse assets and complex estate planning ambitions have many trust options from which to choose. From basic living trusts and irrevocable trusts to trusts that serve a beneficiary's special needs or the designators' charitable ambitions, a trusts and...
