“Basis” is a term used frequently in tax law. Black’s Law Dictionary defines basis as “the value assigned to a taxpayer’s investment in property and used primarily for computing gain or loss from a transfer of the property. When the assigned value represents the cost of acquiring Continue reading
Category: Estate Planning
Avoiding Financial Grief: How to Protect Your Significant Other from Frozen Accounts
The death of a loved one is one of the most difficult times in a person’s life. Nothing can truly prepare a person for such a loss. Having to deal with financial stress at such at a time can heighten the difficulty. Without proper planning, your significant other could face frozen Continue reading
HELP! This Probate Is Taking Forever!!!
After a loved one dies, their money and assets must be distributed to the right people, either according to their will or state law (found in the default distribution scheme in its “intestacy” statute). While most people want the settlement process to be done as soon as possible, Continue reading
Estate Planning is Important for Adults of All Ages
Estate planning is important for adults of all ages.
It is estimated that over 120 million Americans do not have proper estate plans to protect themselves or their families in the event of sickness, accidents, or untimely death. Many do not plan because of the false assumption that Continue reading