Using Life Insurance as Part of Your Estate Plan

Clifford M. Cohen January 8, 2021 No Comments

Life insurance can play a few key roles in an estate plan, depending on your age and situation in life.

How to Create an Estate Plan That Includes Your Pet

Clifford M. Cohen January 8, 2021 No Comments

Pets are members of the family, so it is important to consider how to provide for them in your estate plan just as you would the human family members.

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Credit Shelter Trusts Aren’t Just for the Super Wealthy

Clifford M. Cohen January 8, 2021 No Comments

Credit shelter trusts are a way to take full advantage of state and federal estate tax exemptions. Although such trusts may appear needless unless you are a multi-millionaire, there are…

Medicaid Qualifications for Non-Citizens Who are Permanent Residents of the U.S.

Clifford M. Cohen December 17, 2020 No Comments

Revocable trusts are a very popular and useful estate planning tool. But the trust will be ineffective if you do not actually place your assets in the trust.

D.C. Estate Tax Exemption Reduces Significantly in 2021

Clifford M. Cohen December 10, 2020 No Comments

As we enter the giving season, there is an additional reason to be charitable. Congress enacted a special provision that allows more people to easily deduct up to $300 in…

Judge or Legal advisor lawyer examining and signing legal documents.

Paying Taxes When Selling an Inherited Vacation House

Clifford M. Cohen December 3, 2020 No Comments

While it may seem great to inherit a vacation house, in actuality it may not be practical to keep the property, especially for tax reasons.

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Watch Out for These Potential Problems with Life Estates

Clifford M. Cohen December 3, 2020 No Comments

Life estates can be an excellent tool for Medicaid planning, probate avoidance and tax efficiency, but there are potential problems to look out for.

End-of-Life Care Decision Making

Clifford M. Cohen December 3, 2020 No Comments

Just as we create estate plans for our eventual demise, we also need to plan ahead for the possibility that we will become sick and unable to make our own…

Special Tax Deduction for 2020 Allows Donations of $300 to Charity Without Itemizing

Clifford M. Cohen December 3, 2020 No Comments

As we enter the giving season, there is an additional reason to be charitable. Congress enacted a special provision that allows more people to easily deduct up to $300 in…

Advanced Directives and Estate Planning Senior man examining last will and testament

Don’t Forget to Fund Your Revocable Trust

Clifford M. Cohen November 11, 2020 No Comments

Revocable trusts are a very popular and useful estate planning tool. But the trust will be ineffective if you do not actually place your assets in the trust.

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