Estate and Elder Law

Recent Posts

Properly Reporting Gifts
Posted on 8 Jun 2012 by John Dedon

As 2013 approaches, there will be a flurry of activity by wealthy individuals seeking to take advantage of a gift tax exemption of $5,120,000, that will decrease to only $1 million in 2013. Taxpayers often gift closely held business interests or real... Read More

John Dedon On Estate Planning: 1031 Exchanges And End Of Year Planning
Posted on 5 Nov 2014 by John Dedon

My partner, David Lawrence, is an expert on Section 1031 tax-free exchanges involving investment real estate. His thoughts regarding end of year planning and the advantages of 1031s is below. Tax Straddling When Selling Investment Property Between... Read More

Virginia Self-Settled Asset Protection Trusts
Posted on 18 May 2012 by John Dedon

Effective July 1, 2012, Virginia will be the 13 state to allow self-settled Asset Protection Trusts. Self-settled Trusts allow an individual to transfer assets to a Trust, protect the transferred assets from lawsuit and the transferor's creditors... Read More

John Dedon on Estate Planning: Buy-Sell Arrangements and Irrevocable Insurance Trusts
Posted on 16 Jul 2015 by John Dedon

A common estate planning strategy for people with taxable estates is to have an irrevocable trust own life insurance, rather than owning the insurance themselves. Even with the current amount an individual can protect from estate tax at $5,340,000, some... Read More

Income Deduction of Estate Planning Fees
Posted on 7 Mar 2012 by John Dedon

With April 15 th approaching, it reminds us of the need to file our income tax returns. When preparing estate planning documents, clients often ask, "are these estate planning fees deductible?" The cost to do a simple Will, Power of Attorney... Read More

John Dedon on Estate Planning: Good news on Estate Tax Exemption
Posted on 3 Nov 2015 by John Dedon

The IRS recently announced the inflation adjusted figures for gift and estate tax exemption amounts for 2016. The annual exclusion amount remains at $14,000. That is the amount that can be gifted to US citizens each year without eroding the per person... Read More

The Future of the Estate Tax?
Posted on 24 Apr 2012 by John Dedon

In the last couple of weeks there has been a flurry of activity in the estate tax world. However, it simply has added to the continuing uncertainty regarding the future law. Absent new law, the $5 million exemption amount protecting taxpayers from gift... Read More

Properly Reporting Gifts
Posted on 8 Jun 2012 by John Dedon

As 2013 approaches, there will be a flurry of activity by wealthy individuals seeking to take advantage of a gift tax exemption of $5,120,000, that will decrease to only $1 million in 2013. Taxpayers often gift closely held business interests or real... Read More