Douglas A. Turner, P.C.

Along with other temporary estate and gift tax changes in 2011 and 2012, Congress made a deceased spouse’s unused estate tax exemption portable. At first glance, this sounds like a good thing. However, most married couples would be better off just pretending that this so-called benefit doesn’t exist. Here is why.

The year is almost over and a new tax year is almost upon us. Below are some highlights of the temporary estate and gift tax rules for the remainder of 2011 and 2012. The key word is “temporary”. Absent action by Congress, these provisions will expire on January 1, 2013.

At least once a year we get a frantic call from a parent with a slightly out of control minor or adult child. The question from the parent is, “Can the child get at the money in the custodial account”? The answer is usually a simple yes or no, but it underscores a more important question. How should parents make cash gifts to children? The answer is pretty easy. Use an irrevocable trust and not a 2503(c) or minors trust.

[Misconception #12] Our office routinely handles the same questions or misconceptions about the Colorado probate process. Twelve of the most common Colorado probate misconceptions are listed in this 12 part series…

[Misconception #11] Our office routinely handles the same questions or misconceptions about the Colorado probate process. Twelve of the most common Colorado probate misconceptions are listed in this 12 part series…

[Misconception #10] Our office routinely handles the same questions or misconceptions about the Colorado probate process. Twelve of the most common Colorado probate misconceptions are listed in this 12 part series…

[Misconception #9] Our office routinely handles the same questions or misconceptions about the Colorado probate process. Twelve of the most common Colorado probate misconceptions are listed in this 12 part series…

Everybody knows they should have a will, but is it really necessary? The answer is pretty easy if there are children involved from a prior relationship. The answer is a definite yes. Here is why.

[Misconception #8] Our office routinely handles the same questions or misconceptions about the Colorado probate process. Twelve of the most common Colorado probate misconceptions are listed in this 12 part series…

The death of the family matriarch or patriarch combined with a blended family or adopted children can become a financial and emotional disaster. Even the smallest dispute can result in large legal bills. The way to avoid the this financial disaster and deep emotional trauma is to forgive, and if you are the unforgiven, well, do your best to open the lines of communication and stay out of the courthouse. That said, the path of the unforgiven is often preordained.