Johnson Law Firm
Vacation property can become a family legacy. Keeping your cabin, fishing lodge, hunting property or other special assets separate for future generations is often a special goal for a family.
If you’re married, you may consider establishing a QTIP trust, which is short for qualified terminable interest property trust.
Sometimes people attempt to make an estate plan online without consulting legal and financial professionals to avoid the higher cost. However, everyone’s situation is unique, and using a boilerplate estate plan can lead to mistakes.
I’m a trustee selling a home in irrevocable trust for a parent who died. There are two beneficiaries who will get the sale proceeds with a stepped-up basis. I’m filing Form 1041 but do I still have to file a Form 1040 to report anything for the beneficiaries?
We’re not going to lie. Eating healthily after 50 means effort on two fronts: boosting your intake of good-for-you foods such as berries, leafy greens, whole grains and lean proteins, while cutting out the foods that clog your arteries and oh-so-easily expand your waistline.
Research shows that some hobbies can add years — or even decades — to your life.
In fact, many couples with no children mistakenly believe that they are less likely to need a last will and testament than couples with children.
My great-grandfather was a farmer and had about 23 acres when he died. My grandfather passed away before my great-grandfather. The land was put in a trust for my mother and uncles. My mother passed away two years ago.
Increasingly, financial advisors are working with clients from nontraditional families, which can sometimes require different or additional strategies to protect their assets and achieve their financial goals.
Every estate that holds titled property must be probated if title to that property is not transferred using some other wealth transfer method.
