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Trusts, Estates, Exemptions and Taxes
Trusts & Estate Planning by Kira S. Masteller 818.907.3244 It may be hard to believe that in 2001, the estate and gift tax exemption, also known as the unified credit, was a mere $675K. In
Benefits of an Irrevocable Life Insurance Trust as Security for Support
by Kira S. Masteller and Anthony D. Storm Divorce or separation agreements often require one spouse to maintain life insurance as security for their support obligation. Attorneys often do not address the tax implications if
Fraudsters Rising: IRS Impersonators Flooding the Phone Lines
California Certified Specialist, Tax Law by Michael Hackman 818.907.3279 There seems to be an uptick in phone calls from people claiming to be from the Internal Revenue Service, telling potential victims they owe back taxes
Tax Implications: Selling Your Home
Estate Tax Minimization by Kira S. Masteller 818.907.3244 If you’ve lived at a property for at least two out of the five years before you sell your home, you can consider that property your primary
Inherited IRAs Not Exempt From Bankruptcy Proceedings
Trusts & Estate Planning Attorney by Kira S. Masteller 818.907.3244 Individual Retirement Accounts or IRAs, are retirement funds – at least until you pass the asset on to heirs other than your spouse. Then, according
Retirement Planning for Same-Sex Married Couples
Trusts & Estate Planning Attorney by Kira S. Masteller 818.907.3244 In September, the Internal Revenue Service issued Revenue Ruling 2013-17 which clarified when, for federal tax purposes, the IRS will recognize same-sex marriages. As of
“She’s Crafty”: GoldieBlox, Beasties, Copyrights and Codicils
Co-author Nicholas Kanter November 27, 2013 In 1986, New York hip hoppers the Beastie Boys released Licensed to Ill, the first rap LP to top the Billboard album chart, selling over 9 million copies in
Creating a Living Trust Makes (Dollars and) Sense
“How much will it cost?” For estate planning attorneys, this is usually the follow-up question we’re asked after “Do I need a Trust or Will?” After discussing a prospective client’s estate planning needs, some are
Maximizing Annual Gifts
Trusts & Estate Planning Attorney by Kira S. Masteller 818.907.3244 Individuals with estates that are valued over the Federal estate tax exemption ($5,250,000 in 2013) should consider making annual gifts to their family now so
How Does the DOMA Ruling Affect Estate Planning?
Trusts & Estate Planning Attorney by Kira S. Masteller 818.907.3244 The United States Supreme Court’s ruling on Section 3 of the Defense of Marriage Act (DOMA) on June 26, declaring the definition of marriage as