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Answers to your estate planning questions so you can take care of your family and yourself. Answers to your estate planning questions so you can take care of your family and yourself. Answers to your estate planning questions so you can take care of your family and yourself.
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Archives

Monthly Archive for: "March, 2021"
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 Will House in Irrevocable Grantor Trust Receive Step-up in Basis?
0
By Harry Margolis
In Irrevocable Trusts, Real Estate
Posted March 18, 2021

Will House in Irrevocable Grantor Trust Receive Step-up in Basis?

Question: We have a grantor irrevocable trust from our mother. Her house is for sale and we’re not sure if a step-up in basis is an option or do we carry forward her basis if we do a 1031 [...]

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 Will Gain on Sale of Home in Revocable Trust be Short-Term or Long-Term?
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By Harry Margolis
In Real Estate, Revocable Trusts
Posted March 9, 2021

Will Gain on Sale of Home in Revocable Trust be Short-Term or Long-Term?

Question: I enjoyed your book very much, and last October 2020, I set up a revocable trust and transferred a 2nd vacation home located in Massachusetts into the trust. However, I recently [...]

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 Will an Offshore Trust Avoid Income Taxes?
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By Harry Margolis
In Asset Protection
Posted March 7, 2021

Will an Offshore Trust Avoid Income Taxes?

Question: I am a non-US citizen and I am thinking about creating an irrevocable foreign trust to hold money received from an inheritance. The trust will be set in an offshore zero taxation [...]

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 Can Brother Charge $119,000 Trustee Fee on Trust Holding $190,000?
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By Harry Margolis
In Probate, Trustee
Posted March 4, 2021

Can Brother Charge $119,000 Trustee Fee on Trust Holding $190,000?

Question: One brother and I were both appointed as POAs and healthcare advocates in a trust for our mother. My brother assumed financial and healthcare decisions as he lived closer. There are 7 [...]

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Categories
  • Asset Protection (34)
  • Charitable Giving (10)
  • Durable Powers of Attorney (44)
  • Estate and Gift Taxes (56)
  • Guardianship and Conservatorship (5)
  • Health Care Directives (13)
  • Irrevocable Trusts (51)
  • Long-Term Care Planning (173)
  • Non-Traditional Families (16)
  • Non-US Citizens (27)
  • Pets (4)
  • Practical Matters (15)
  • Probate (38)
  • Property in Other Countries (5)
  • Real Estate (69)
  • Retirement Plans (19)
  • Revocable Trusts (102)
  • Second Marriages (11)
  • Social Security (18)
  • Special Needs Planning (69)
  • Trustee (52)
  • Vacation Homes (3)
  • Wills (50)
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