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Use of Family Limited Partnerships in Estate Planning

  Family limited partnerships can be useful vehicles for accomplishing certain estate planning and asset protection planning goals. Historically, they were often used as an alternative to a corporation for purposes of holding real estate or as an operating vehicle for a family business because they offer limited liability protection of the same type afforded … Continue Reading

Joint Tenancy With A Noncitizen Spouse

Joint Tenancy With A Noncitizen Spouse: An Estate and Gift Tax Guide for the Perplexed This article was originally published in Probate & Property, the Magazine of the Real Property, Probate and Trust Law Section of the American Bar Association, Vol. 16, No.1, January/February 2002, at page 41. The problem with federal estate and gift … Continue Reading

Quit Claims & The $500K Exclusion

Co-Author:  Patricia A. Leighton, Esq. Quit Claims & The $500K Exclusion Consider the following parent who has allowed her adult son to live in her second house for the last 2 ½ years. The parent now wants to sell the house. Can the parent quit claim the house to her son so that he can … Continue Reading

Choosing a Fiduciary for Your Will or Trust

For most people, selecting the “right” person to take care of one’s minor children or property after death is the most agonizing feature of estate planning. This problem should not prevent you from signing a will or moving forward with other necessary estate planning, however. You need to have a will in place because the … Continue Reading

Advance Directives

  The Case For Advance Directives Advance directives have become as common as wills in estate planning. Most estate planning packages today will include both general and healthcare durable powers of attorney and a living will. Are these documents necessary for most adults or merely exploitation of the public’s fear? If one weighs the minimal … Continue Reading

Why You Really Do Need a Will

Four Documents We All Should Have, or Why You Really Do Need a Will  It used to be that people were worried that if they didn’t have a will, all their assets would go to the state. Most people are now aware that this doesn’t happen, but there is a great deal of misinformation still … Continue Reading

Asset Protection Planning

Author:  David L. Cleveland, Esq. Asset Protection Planning: Transferring Assets to Your Spouse Asset protection planning is essential in today’s litigation oriented society. While being involved in a law suit is not quite as certain as death and taxes, it is as foreseeable as being involved in a traffic accident or a failed business deal. … Continue Reading

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