Estate Planning – Durable Power of Attorney

DURABLE POWER OF ATTORNEY The prior blog entry described the Health Care Proxy and the HIPAA Release documents. These documents provide for someone of your choosing to make health care decisions for you in the event you cannot make them for yourself, and receive information about your medical condition. These documents don’t allow your chosen Agent to pay for medical …

IRS Announces Inflation Adjustments for 2016

Rev. Proc. 2015-53 Income Tax: Highest Tax Bracket for Estates and Trusts. An estate or trust will be subject to the highest income tax bracket and Medicare surtax if taxable income exceeds $12,400 (increased from $12,300 in 2015). Gift Tax: Annual Exclusion for Gifts. The annual exclusion for gifts remains at $14,000 for 2016. Annual Exclusion for Gifts to Non-Citizen …

What Is An Estate Plan & Health Care Documents

An “ESTATE PLAN”….sounds complicated and a bit grand.  I can’t possibly have an “estate.”  Surprise, we all have an estate.  If we own our own home, a car, a bank account, a retirement account, a stamp collection, a piece of art, a pet, children, etc., this makes up our estate. What an estate plan allows you to do is provide …