The Paley Rothman Blog
Paley Rothman shares this library of resources with clients and friends of the firm to help them stay ahead of legal and business developments and trends. Here, you will find helpful tips and tools written by our attorneys.
Financial powers of attorney, while sometimes helpful, are not always perfect solutions to the problem of reduced capacity, or even the convenience of allowing someone else, often a spouse or child, to manage one’s finances.
On June 4, 2014, Ron Lundquist, a senior program analyst for the IRS's Small Business/Self-Employed Division reminded Taxpayers to be aware of possible Financial Crimes Enforcement Network (FinCEN) Form 114, Report of Foreign Bank and Financial Accounts.
Not quite, to be sure, but the Maryland House of Delegates passed House Bill 739 (“Maryland Estate Tax – Unified Credit”) increasing the Maryland estate tax exemption (the amount an individual can pass free of Maryland estate tax) gradually over the next five years to the federal estate tax exemption. This bill now moves to the Maryland Senate.
The IRS updated the inflation-adjusted tax figures for 2014, increasing several federal gift tax annual exclusion amounts and the lifetime gift, estate and generation skipping tax exemption totals. Here are the specifics for each.
Your parent or spouse just passed away and you’ve been named the executor or personal representative of the estate. You know you need a lawyer who can help you probate the will or administer the revocable trust. How do you go about finding an estates and trusts attorney? What specific qualities and credentials should you look for in your search?