December 2014 Posts

  • 2014 Tax Extensions – Limited Time Remains

    With less than two weeks remaining in the 2014 tax year, Congress passed several tax extensions. The tax provisions were included in H.R. 5771 Tax Increase Prevention Act of 2014. ...
  • Estate Planning Mistake: Forgetting to Fund

    Many estate plans include a living trust, a tool that can be amended at any time during the trust creator’s life and becomes irrevocable upon their death. Even the most carefully planned and detailed estate plans could be at least partially ineffective if the trust creator fails to fund the trust....
  • Timeshares in Estate Planning

    Many of the clients our estate planning attorneys in Chapel Hill serve own property in multiple states, and some of the properties are timeshares. Timeshares are generally considered real property, with a deed as evidence of ownership. ...
  • 3 Signs You Should Update Your Retirement Plan

    Reports continue to show Americans are not saving enough for retirement. Some retirement account owners may miss out on opportunities that could help grow their assets, even if they are not contributing suggested amounts. ...
  • Successor Trustee Responsibilities

    When a trustee passes away or becomes incapacitated, a successor trustee must step forward. In addition to the trustee’s duties, a successor trustee is responsible for presenting an affidavit or certificate of trust that provides proof of their legal power over the trust. ...
  • Year-End Gifting to Charities

    The spirit of the holiday season is a generous one. According to the National Center for Charitable Statistics, “The last few months of the year make up what is commonly called the Giving Season for the nonprofit community.” ...
  • North Carolina 2014 Tax Year Changes to Note

    Individuals and businesses across North Carolina are approaching the end of the 2014 tax year. Our tax attorneys in Chapel Hillreview below a few income tax legislation amendments for the 2014 tax year. ...
  • Portability Deadline Weeks Away for Estate Tax Exclusion

    For estates of decedents who died in 2011 or 2012, the chance to elect portability of the decedent’s estate tax exemption will expire on December 31, 2014....