RECENT POSTS
The Tax Cuts and Jobs Act: Trust & Estate Planning Considerations
Gift Tax, Trusts & Estate Planning Attorney by Kira S. Masteller 818.907.3244 This week was supposed to be the week Republicans passed a tax bill. It’s unclear what exactly will happen in the immediate future, or
Accidental Disinheritance: Update Wills, Estate Plans Annually
Gift Tax, Trusts & Estate Planning Attorney by Kira S. Masteller 818.907.3244 So you have an estate plan? Good for you. You funded it? Even better. But have you updated it and your will in
Estate Planning NOW: Preparing for a New Government
Gift Tax, Trusts & Estate Planning Attorney by Kira S. Masteller 818.907.3244 It’s impossible to predict what any future president will do, or what Congress will approve. But in light of comments president-elect Donald J.
Game Changer? Succession Planning Targeted by IRS
by Michael Hackman and Kira S. Masteller The Department of the Treasury wants to place limitations on valuation discounts that are currently commonly used to reduce asset values in family-owned and closely-held businesses, in an
Tax Planning Before Turning 70: What You Should Know About RMDs
Trusts & Estate Planning by Kira S. Masteller 818.907.3244 Tax payers aged 70 ½ or older this year must take a Required Minimum Distribution, or RMD, from their traditional IRAs (Individual Retirement Arrangements), SEP (Simplified
Trusts, Estates, Exemptions and Taxes
Trusts & Estate Planning by Kira S. Masteller 818.907.3244 It may be hard to believe that in 2001, the estate and gift tax exemption, also known as the unified credit, was a mere $675K. In
Benefits of an Irrevocable Life Insurance Trust as Security for Support
by Kira S. Masteller and Anthony D. Storm Divorce or separation agreements often require one spouse to maintain life insurance as security for their support obligation. Attorneys often do not address the tax implications if
Family Tax Deductions and Credits: What Do You Qualify For?
Trusts & Estate Planning by Kira S. Masteller 818.907.3244 Late last year, Congress approved nearly $11 billion to fund the Internal Revenue Service for fiscal year 2015 – the lowest allotted amount since 2008, according
Tax Implications: Selling Your Home
Estate Tax Minimization by Kira S. Masteller 818.907.3244 If you’ve lived at a property for at least two out of the five years before you sell your home, you can consider that property your primary
Inherited IRAs Not Exempt From Bankruptcy Proceedings
Trusts & Estate Planning Attorney by Kira S. Masteller 818.907.3244 Individual Retirement Accounts or IRAs, are retirement funds – at least until you pass the asset on to heirs other than your spouse. Then, according