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One of the most common reasons people do a trust is so their assets will avoid having to go through probate after they die. What is probate? Probate is court supervised estate administration; it is the court process that oversees the ultimate distribution of your assets. Probate can be a lengthy, stressful and costly process and most people want to…
Often, when a person dies and owned real estate, that real estate needs to be sold; sometimes it is sold to pay debts of the estate but most often it is sold because the heirs do not want to deal with the real estate and prefer money instead. If you are going to be responsible for dealing with the real…
Most states, including New Hampshire, do not require an estate plan to provide a family inheritance so you can leave your assets to family members, another person important to you, charities or to others. This reality however can be particularly distressing to family members when the widow or widower enters into a relationship much younger than them and leaves the…
Attorney J. Daniel Marr discusses possible issues and litigation arising from mistakes made with respect to Revocable Trusts in New Hampshire. Subscribe to our YouTube Channel.
Are you in need of assistance in paying the funeral expenses for a deceased loved one who’s death was attributed to COVID-19? FEMA is providing financial assistance to ease some of the financial burden on loved ones who have unexpectedly lost someone due to COVID-19 under the Coronavirus Response and Relief Supplemental Appropriations Act of 2021 and the American Rescue…
Recent changes in estate tax laws have caused many couples to review the appropriateness of their estate plan. The most significant change is the substantial increase to the Federal Estate Tax Exemption. The new exemption is $11.2 million per taxpayer, adjusted annually for inflation. Many estate plans using the A/B (Marital/Family) trusts as an estate tax avoidance tool were written…
The recently enacted SECURE Act has made changes to the laws affecting retirement accounts, which are both good and bad for taxpayers. In this blog I will cover the highlights of the negative changes for taxpayers. The biggest “bad” change imposed by the SECURE Act, is the attempt to close-down or at least minimize the advantages of Inherited “stretch” IRAs…
The recently enacted SECURE Act has made changes to the laws affecting retirement accounts, which are both good and bad for taxpayers. In this blog I will cover the highlights of the positive changes for taxpayers. Beginning in 2020, the SECURE Act changes the require beginning date (RBD) for required minimum distributions (RMD) from retirement accounts from April 1 of…
Attorney J. Daniel Marr discusses how adding your name on your parent’s bank account to take care of her bills is a mistake. Subscribe to our YouTube Channel.
Attorney J. Daniel Marr discusses New Hampshire law on manipulation of gift or inheritance, undue influence. Subscribe to our YouTube Channel.