Life is constantly changing, and people are free to change their estate plans as their circumstances change. They can change those plans all the way up until the end of their life. However, concerns can arise when a significant change appears inconsistent with the person’s previous wishes and circumstances. This […]
Category: Estate Planning
An executor is responsible for managing a deceased person’s estate. When an executor mismanages estate assets, breaches fiduciary duties, or causes financial harm, heirs may pursue a surcharge action to seek damages. Surcharge actions provide a legal remedy to hold executors accountable and help recover losses caused by their actions. […]
Family Limited Partnerships (FLPs) are a popular estate planning tool that can help families transfer wealth while potentially reducing estate and gift taxes through valuation discounts. Because these discounts can significantly lower asset values for tax purposes, the IRS closely scrutinizes FLPs to ensure they serve legitimate estate planning objectives. […]
Owning a vacation home or Airbnb rental can be an excellent way to build wealth and generate steady passive income. After investing the time, money, and effort to purchase and maintain a rental property, the last thing you want is for a single lawsuit to put your investment—and even your […]