Gregory Herman-Giddens’s Answers

Gregory Herman-Giddens

Chapel Hill Estate Planning Attorney.

Contributor Level 14
  1. When my heirs calculate the value of my estate - estate tax purposes - include death benefits they receive from life insurance?

    Answered almost 2 years ago.

    1. Gregory Herman-Giddens
    2. Joseph Franklin Pippen Jr.
    3. David J. McCormick
    4. Steven M Zelinger
    5. Dennis Michael Phillips
    5 lawyer answers

    Yes, if you own the policy at the time of your death or gave it away within three years of your death, or if you retained "incidents of ownership" such as the power to change the beneficiary. An irrevocable life insurance trust can remove the proceeds from your estate.

    14 lawyers agreed with this answer

    1 person marked this answer as helpful

  2. Do we need an attorney to prepare our "wills" or is Legal zoom's $79 comprehensive will sufficient?

    Answered over 1 year ago.

    1. Eric Edward Rothstein
    2. Gregory Herman-Giddens
    3. James D. Kiley
    4. Jayson Lutzky
    5. Charles Adam Shultz
    6. ···
    11 lawyer answers

    Estate planning is much more than just words on paper. An experienced and qualified attorney can help your family save thousands of dollars and hours of aggravation.

    13 lawyers agreed with this answer

    1 person marked this answer as helpful

  3. Does deeding a property contained in a will to someone before the will is activated eliminate the property from the will?

    Answered 4 months ago.

    1. Gregory Herman-Giddens
    2. Cristin Jenise Silliman
    3. Joseph Michael Pankowski Jr
    4. Mark Russell Lewis
    5. Keith Michael Petrochko
    6. ···
    6 lawyer answers

    Yes. If the property is transferred during life the will is not effective as to that property.

    13 lawyers agreed with this answer

  4. I need help. I havent filed taxes in 5-7 years. Im not sure what to do. Should I get a tax lawyer or an accountant to help me?

    Answered almost 2 years ago.

    1. Gregory Herman-Giddens
    2. Pamela Koslyn
    3. John B. Reilly
    4. Jonathan Hackworth
    5. Ronald J Cappuccio
    6. ···
    7 lawyer answers

    If your income is low enough, you may not owe any income tax, but self-employed persons must pay self-employment tax on all earned income. I agree that generally accountants charge less per hour and a good accountant should be able to help you get things straight.

    13 lawyers agreed with this answer

  5. How many witnesses are required on a Last Will and Testament in Florida?

    Answered 7 months ago.

    1. Gregory Herman-Giddens
    2. Marc Jeremy Soss
    3. Cristin Jenise Silliman
    4. Sabina Tomshinsky
    5. Brandon Robert Bytnar
    6. ···
    8 lawyer answers

    Two. But I believe you are making a mistake in preparing your own will, as there are likely many legal issues that you will fail to cover or deal with adequately. Using the services of an estate planning lawyer can save your beneficiaries time, trouble and potentially thousands of dollars in legal fees after your death.

    12 lawyers agreed with this answer

  6. How does Someone defend themselves against a foreign government enitity the IRS?

    Answered almost 2 years ago.

    1. Gregory Herman-Giddens
    2. Evan A Nielsen
    3. Daniel Lee O'Neil
    4. Christopher Michael Larson
    5. Brent Allan Rose
    6. ···
    6 lawyer answers

    This is an argument some use to try to get out of paying taxes, but a U.S. citizen or permanent is legally bound to pay taxes and there is absolutely no legitimate defense against it.

    12 lawyers agreed with this answer

  7. I want to leave MY house to my kids and bypass my husband completely after my death. What do I need to do now to do that?

    Answered 12 months ago.

    1. Gregory Herman-Giddens
    2. Pamela Thea Higer Polani
    3. Lawrence Jay Davis
    4. Anastatia Quirk Ellis
    5. Sergio Cabanas
    5 lawyer answers

    The only way to make sure that it can be accomplished is to have your husband sign a valid postnuptial agreement waiving all of his rights to the property. Because of your marriage he has certain rights to the property upon your death regardless of what your will or trust provides.

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  8. What type of a lawyer, do I need if I want to set up trust funds for my children and I.? to set up money, I received from a

    Answered about 1 year ago.

    1. Gregory Herman-Giddens
    2. Ian William Maclean
    3. Stuart Warren Moskowitz
    4. Richard Albert Luthmann
    4 lawyer answers

    The type of lawyer who can assist you is generally referred to as an estate planning or trust and estate attorney. It's important that you choose one who is experienced and can advise you about tax issues as well as the need for a prenuptial agreement.

    Selected as best answer

  9. Mother in nursing home on Medicaide. Gave me home in 1995 but kept life time estate, with warranty deed. Can. I sell home?

    Answered 6 months ago.

    1. Gregory Herman-Giddens
    2. Kelly Scott Davis
    3. Joseph Franklin Pippen Jr.
    4. David Michael Goldman
    5. Joel Steven Weissler
    5 lawyer answers

    If the power of attorney gives you authority to sell, you can legally sell the property. However, the amount of the sales proceeds that equals the actuarial value of the life estate will be considered your mother's property, and will most likely disqualify her for Medicaid and will need to be spent before she qualifies again.

    11 lawyers agreed with this answer

  10. How many witnesses do you need to sign a will in ny state? And who should be the witnesses?

    Answered over 1 year ago.

    1. Gregory Herman-Giddens
    2. Frank Louis Buquicchio
    3. Eric Edward Rothstein
    4. Joseph Michael Pankowski Jr
    5. George Howard Dippel
    6. ···
    6 lawyer answers

    Most, if not all states require two witnesses. Beneficiaries should not be witnesses or they will lose their right to receive anything under the will. I would encourage your father to see a lawyer to ensure that his will is properly prepared. Homemade wills are never a good thing.

    11 lawyers agreed with this answer