Year: 2007
New North Carolina Trust Laws
In addition to the repeal of the rule against perpetuities, which is effective January 1, 2008 (perpetual trusts will be allowed in…
Avoid Probate of Equity Refunds from Continuing Care Communities
The Problem: Continuing care retirement communities have been growing in popularity with seniors for years. Such communities usually require a “buy-in” upon admittance…
Worst Nursing Homes in U.S. – One is in NC
The U.S. government’s Center for Medicare and Medicaid Services has released a report listing the poorest quality nursing homes in the country. One…
Medicaid Penalty Changes in NC Effective January 1, 2007
On February 8, 2006, the federal government implemented increased restrictions on gifts made before applying for Medicaid coverage. North Carolina has issued…
History of the Estate Tax
This article discusses in brief the history of the federal estate tax and its effect on the U.S. budget. Also examined are the ways…
IRS Sets 2008 Mileage Rates
Beginning Jan. 1, 2008, the standard mileage rates for the use of a car (including vans, pickups or panel trucks) will be:…
NC Income Tax Deduction for Contribution to 529 Plan
I previously blogged about the 2007 income tax deduction available to North Carolina residents to contribute to a North Carolina 529 College Savings…
Top 10 Life Insurance Mistakes
This posting is compliments of my colleague Karen Brady in Colorado. Important reading for anyone who has anything to do with life…
Increased Court Fees for Testamentary Trusts
Another increase in North Carolina court fees: As of August 1, 2007, testamentary trusts (those contained in a Will) which account to…
IRS to Offer Workshop for 501(c)(3) Exempt Organizations
The IRS will be offering a number of workshops for small to medium sized 501(c)(3) organizations on tax compliance issues. The cost…
