Is there a need for Estate Planning if inheritance taxes are not a consideration?
- February 1st, 2024
- David Greene
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No one knows at this time what will happen to the Estate and Generation Skipping tax, whether the tax bracket may be lowered or whether the tax may be repealed in its entirety. The threshold for being liable for the…
New Year Resolutions
- January 29th, 2024
- David Greene
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Well, Christmas is over and we have rung in the New Year. During this past week many people made New Year resolutions. Did you make any? Most of these deal with either working on a healthier and better body or…
Do I have to pay a gift tax on the money given to my wife and me for our wedding?
- November 18th, 2023
- David Greene
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That is a good question, with an easy answer. You, as the receiver of the gift, do not pay the gift tax. The donor pays the tax. However, anyone can give an individual a gift of money, property or any…
What inheritance rights do unmarried couples have?
- September 21st, 2023
- David Greene
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Unmarried couples do not have any rights to the assets of their deceased partner and have no rights to intestate inheritance.There is no more Common Law Marriaage in South Carolina. It was abolished in July 2019. Common Law marriages established…
Pitfalls to avoid in Estate Planning
- July 13th, 2023
- David Greene
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Everyone should review her Estate Plan every two or three years. The beginning of the new year is a good tinme to do that. Here are some pitfalls to avoid. (1) Check your beneficiaries on your trust, will and financial…
How is real property owned by a deceased person transferred if no probate estate was ever opened?
- April 1st, 2023
- David Greene
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The only way to transfer real property owned by a deceased person who died less than ten years ago is to open or reopen a probate estate and obtain a Deed of Distribution. If the deceased died more than ten…
Is a Personal Representative responsible for estate tax debts?
- March 28th, 2023
- David Greene
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Before I answer this question, I want to remind everyone that spammers are sending out emails saying they are the IRS and asking for your Social Security number. The IRS never communicates with taxpayers by email. Throw these emails in…
What type of documents should I be considering for my Estate Plan?
- February 28th, 2023
- David Greene
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When people typically think of estate planning, the first thing that comes to mind is how they can control their assets after death. When considering this, most individuals come in to see us wanting to create some type of will…
When can the 60 day IRA rollover limit be waived?
- January 5th, 2023
- David Greene
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There are procedures (in addition to those in the CARES Act) that can be used to get relief from the 60 day limit to rollover an IRA without taxes if certain criteria are met. They are: (1) An error was…
How can one relinquish his authority under a Power of Attorney?
- September 20th, 2022
- David Greene
- Comments Off on How can one relinquish his authority under a Power of Attorney?
First let me point out that even though one is the agent pursuant to a Power of Attorney, she does not have to act pursuant to its authority. However, no one else can have Power of Attorney as long as…