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Morris Hall, PLLC
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Probate of Prince’s Estate Drags On While Beneficiaries Wait and Expenses Mount - Despite acknowledging the importance of having at least a basic estate plan in place, over half of all Americans do not have one. One of the most important motivations for... The post Probate of Prince’s Estate Drags On While Beneficiaries Wait and Expenses Mount appeared first on Morris Hall, PLLC.
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How Does Arizona Stack Up as a Retirement Destination? - Planning for your retirement should begin as soon as you enter the workforce. Initially, your retirement plan is likely to be nothing more than a designated savings account or retirement account.... The post How Does Arizona Stack Up as a Retirement Destination? appeared first on Morris Hall, PLLC.
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A Special Option for Special Kids - When planning for children with special needs, it takes special care to preserve their eligibility for public benefits. An ABLE account is a new way to preserve eligibility while gaining tax advantages. Read on to learn more about this new tool in planning for those who were disabled by age 26. The post A Special Option for Special Kids appeared first on Morris Hall, PLLC.
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Donor Advised Funds: IRS Issues New Ruling - A new ruling addresses whether a donor advised fund may satisfy charitable pledges by the donor/advisor. It now may do so, as long as certain requirements are met. Read the article to learn more about how donor advised funds are a great tool for charitable giving. The post Donor Advised Funds: IRS Issues New Ruling appeared first on Morris Hall, PLLC.
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Basics of Estate Planning: Getting the Most out of Charitable Gifts - Clients often want a simple plan that maximizes their goals. This article looks at a simple way to make gifts to charity more valuable to the donor and the charity. The post Basics of Estate Planning: Getting the Most out of Charitable Gifts appeared first on Morris Hall, PLLC.
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Basics of Estate Planning: Powers of Appointment – Part 2 - Trusts can be very flexible instruments. One of the ways to add flexibility is by using powers of appointment. This article will examine the different types of powers of appointment and how that can impact taxation. The post Basics of Estate Planning: Powers of Appointment – Part 2 appeared first on Morris Hall, PLLC.
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Basis is Important in Estate Planning - When choosing the direction to take in estate planning, it’s important to consider the impact on income tax basis. This article examines the nature of basis and follows an example from acquisition of property to death and looks how basis is adjusted along the way. Since the property is included at death, the basis receives a step-up to the value of the property at death. Upcoming articles will examine how common estate planning strategies impact income tax basis. Basis is Important in Estate Planning The post Basis is Important in Estate Planning appeared first on Morris Hall, PLLC.
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Basics of Estate Planning: Powers of Appointment – Part 1 - Trusts can be very flexible. One of the ways to add flexibility is by using powers of appointment. This article will examine what a power of appointment is and how it may be used to add flexibility to a trust. An upcoming article will examine the tax consequences of powers of appointment. The post Basics of Estate Planning: Powers of Appointment – Part 1 appeared first on Morris Hall, PLLC.
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Treasury Releases New Inflation Adjustment - The new tax law doubled the estate tax exclusion through 2025. This article looks at the exact amount of the new exclusion (it’s not what you thought) and how it might be useful. The article also examines why there’s no reason not to take advantage of the newly-doubled exclusion. Treasury Releases New Inflation Adjustment The post Treasury Releases New Inflation Adjustment appeared first on Morris Hall, PLLC.
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Would You Prefer a Charitable Deduction This Year? - Perhaps you would prefer to take a charitable deduction this year. Maybe you have higher income this year, or the reduced ability to take a deduction next year. A donor advised fund may make sense for you. A donor advised fund allows a deduction this year, even though distributions will be made to public charities in future years. Read on to learn more about a donor advised fund. The post Would You Prefer a Charitable Deduction This Year? appeared first on Morris Hall, PLLC.
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