The Perfect Storm for Advanced Estate Planning (Part 2)

In Part 1 of this newsletter series on “The Perfect Storm for Advanced Estate Planning,” we discussed how right now may be the perfect time to undertake advanced estate planning transactions. Why? The reasons include historically low interest rates, relatively low and volatile asset valuations, and an expectation of higher taxation on the horizon. In Part 2, we will be discussing the reasons for undertaking this type of planning, who [...]

June 17th, 2020|

WEBINAR: Secure Act Update & Self-Assessment Tool – May 2020

Richard Morgan discusses recent changes to the SECURE Act and their impact on your estate plan. Topics covered include: What did the SECURE Act do? What were the major changes to the RMD rules? Who qualifies as an EDB? What are the types of trusts for RMD purposes? How do I know if I need an estate plan review? What steps can I take to reduce any [...]

June 17th, 2020|

Watch Now: Guardianship & Conservatorship in Georgia

by Diane Weinberg This video blog addresses some of the common questions I receive about guardianships and conservatorships. Please note that this information is specific to the state of Georgia. If you live in a different state, you may find it broadly informative, but you should consult an attorney in your state for the most appropriate counsel. Diane Weinberg: Hi, this is Diane Weinberg, Of [...]

May 27th, 2020|

The Perfect Storm for Advanced Estate Planning (Part 1)

Now is the time to undertake advanced estate planning! The last time we made a call-to-action with this level of conviction to undertake more advanced estate planning was in late 2011 when interest rates began hitting historical lows. Well, we are hitting historically low interest rates again, and the interest rates for June 2020 are simply astounding! Why is this particular time so historically significant from an advanced estate planning [...]

May 19th, 2020|

The Social Security Administration Keeps Us on Our Toes: Treatment of CARES Act Payments for SSI and Medicaid Beneficiaries; Nominating Representative Payees with the Social Security Administration

By Diane Weinberg Under the Coronavirus Aid, Relief and Economic Security (CARES) Act, every taxpayer who received income in 2018 and 2019 below a certain threshold will receive a direct payment from the federal government. Generally, single taxpayers will receive a rebate of $1,200 ($2,400 for married couples), and eligible individuals will also receive a credit of $500 for each eligible child under age 17. (Congressional Service Insight, IN11290 ( Supplemental Security [...]

April 14th, 2020|

Social Security Rule Concerning Imprisoning Attorneys Repealed – For Now

By Diane Weinberg As you may recall, our August 29, 2019 News Alert addressed a Social Security rule that would likely make it more difficult for an individual with a disability to obtain the assistance of an attorney to help that individual receive public benefits. Specifically, the rule provided that Social Security would need to pre-approve any attorneys’ fees incurred to create a trust that could cause an individual to [...]

April 8th, 2020|

UPDATED 3/30/20: Gift Tax Return Due Dates Extended to July 15, 2020

UPDATE 3/30/20: The IRS has extended the deadline for gift tax return filings, too - July 15, 2020. You may read Notice 2020-20 under "Guidance" on the IRS Coronavirus Tax Relief page. 3/26/20: It has been widely reported that the income tax return filing and payment dates for many taxpayers have been pushed back. What has been much less widely noted is that the due date for GIFT tax returns (IRS Forms [...]

March 25th, 2020|

It’s Important to Review Your Estate Plan Every Three Years

When was the last time you reviewed your estate plan? If it has been a while, it’s a good idea for you to make sure that as your life changes, your estate plan keeps up. Morgan & DiSalvo highly recommends that our estate planning clients come in for an estate planning review at least every three years. A review gives us the opportunity to: Factor in important life changes It’s [...]

August 20th, 2019|

Local TV Personalities Get Themselves – and Their CPA – Indicted for Tax Related Crimes

Hot off the Atlanta presses: A Federal Grand Jury indicts Todd and Julie Chrisley of the “Chrisley Knows Best” reality TV show and their CPA on tax related crimes. At this point, they have not been convicted, but critical lessons can be learned nonetheless. It should be noted that the government has a very high conviction rate for those that are indicted for tax related crimes. Some quick background: The [...]

August 14th, 2019|

Who Are Your Grandchildren Under Your Estate Planning Documents?

by Richard M. Morgan As can be seen in the case of actress Elizabeth Hurley's son, Damian Hurley, a child born out-of-wedlock to Peter Bing's son, Steve Bing, it clearly depends on the wording in the particular estate planning document. This is case where a trust creator, Peter Bing, who happens to be a multi-billionaire, decides after the fact that his irrevocable trust agreement did not spell out his intention [...]

August 7th, 2019|
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