Probate

New Legal Library on Trusts, Estates, and Tax Law

Posted on: March 23rd, 2017
TrustCounsel's new Legal Library is now a permanent free online resource with guides to help direct executor’s discussions with attorneys, as well as to alert legal and financial practitioners of important probate and trust law matters....

Inherited IRA Issues in North Carolina

Posted on: March 21st, 2017
Inherited IRAs face differing regulation based on whether the beneficiary is a spouse or a non-spouse. Marital status also influences how North Carolina’s intestate succession law applies to an estate, which may pertain to retirement accounts. FINRA released an Investor Alert early this year advising IRA beneficiaries to review inherited IRA tax implications....

How Proposed Changes to Family Businesses Could Raise Estate Tax Liability

Posted on: January 6th, 2017
Over the summer of 2016, the IRS released proposed changes to tax provisions (Section 2704) that apply to most business entities, including family businesses. These potential changes could have a major impact on tax planning, including estate tax implications....

Tax Issues for Art Collections

Posted on: July 21st, 2016
Artwork and collections left behind in one’s estate will be subject to probate unless the decedent prepared a trust or other planning tool to hold and manage the art during their lifetime. Regardless whether the art is considered a probate asset, in the case of an estate that is subject to federal or state estate tax, art is a unique asset that poses several potential tax problems. The IRS may carry out an art valuation audit under certain circumstances....

Probate of Real Estate in North Carolina

Posted on: June 24th, 2016
Real property poses unique set of considerations in the context of estate or trust administration. To understand more about how a personal representative oversees the management and distribution of real property during estate and/or trust administration, take a closer look at some variables that affect property distribution....

Dave Ramsey Might be Misinformed About Living Trusts

Posted on: May 7th, 2016
Financial guru Dave Ramsey shares advice regarding managing debt and finances with millions of people. However, one of his books makes a broad statement about living trusts that is not entirely true....
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