Can I give my son and his wife each 13,000.00 as a gift without any of us paying a tax?

You can give each of them $13,000 in one calendar year without it being charged against your $1,000,000 free lifetime giving amount and without it...

What are the tax implications of giving cash gifts to family? Is there a one time tax free option?

First, the check must clear before the end of the year to be a valid gift that year. Second, the check needs to be deposited in an account in the...

Can real property held in joint tenancy be sold by one spouse with power of attorney due to other spouse's mental deficiency

Each state has its own law for powers of attorney. If state law authorizes the creation of a durable power of attorney and if the power complies...

First an attorney must determine whether the old trust was revocable by the surviving spouse. To the extent it became irrevocable, your father in...

A/B trust question

In an AB trust, the portion of the first spouse to die's assets equal to the exemption goes to the B trust and all remaining assets go to the A...

Estate Planning

Each legal entity is formed under the laws of a particular state. It is advisable that it be formed by an attorney. The goal is to have assets...

Estate plan structure

The home would be deeded by quitclaim to a revocable trust to be prepared by an attorney. The plan should include two pour-over wills to cover...