Profile cover photo
Profile photo
Virtus Law

Post has attachment
Decanting: How to Fix a Trust That Isn’t Getting Better With Age
While many wines get better with age, the same cannot be
said for some irrevocable trusts.  Maybe
you’re the beneficiary of a trust created by your great grandfather seventy
years ago that no longer makes sense.  Or
maybe you created an irrevocable trust tw...
Add a comment...

Post has attachment
What’s Hot in Estate Planning Right Now May Surprise You
Estate planning has truly evolved over the past 20
years.  Gone is the uncertainty about
federal estate taxes and the absolute requirement for married couples to use
complex trusts to minimize these taxes. 
But also gone is planning for the “traditional” fa...
Add a comment...

Post has attachment A New Resource for Older Americans and Their Families
More than 10,000 people turn 65 in the U.S. every day according
to ( ), a new website
recently launched by the Obama administration. 
The goal of this website is to act as gateway for older Americans and
their families, f...
Add a comment...

Post has attachment
Skyrocketing Probate Fees – Another Reason to Avoid Probate Court
As of July 1, 2015, Connecticut probate courts earned the dubious
distinction of charging the highest probate fees in the U.S.  Amazingly, the Connecticut legislature voted
to completely cut general fund support for the state’s probate courts for the
next t...
Add a comment...

Post has attachment
What You Need to Know About the Final Estate Tax Portability Rules
Recently the IRS issued the final rules governing the “portability
election” as it relates to the federal estate tax exemption.  Married couples need to understand how these
final rules may affect their existing estate plans, while recent widows and
Add a comment...

Post has attachment
Financial Firms Roll Out Form Aimed at Stopping Financial Elder Abuse
With cases of financial exploitation of the elderly on the rise, advisors who work with older clients are looking for ways to head off the abuse before it happens.  Enter the “Emergency Contact Authorization Form,” a document in which clients can list a tru...
Add a comment...

Post has attachment
5 Reasons Why Uncle Bill May Not Make a Good Trustee
If you have created a dynasty trust that you intend to last
for decades into the future, choosing the right trustee is critical to the
trust’s longevity and ultimate success. Initially you may think that a family member, such as a
sibling (“Uncle Bill” to y...
Add a comment...

Post has attachment
IRS Announcement: Estate Tax Closing Letters Will Now Only Be Issued Upon Request
Due to the increased volume of federal estate tax return
filings in order to make the “portability election,” the IRS has announced that
estate tax closing letters will only be issued upon request by the taxpayer.
This change in IRS policy started on June 1...
Add a comment...

Post has attachment
5 Most Expensive States for Retirees in 2015
While there are many factors to consider when choosing the
place where you will retire, the ones that will impact your wallet may be the
most important.   Why?   Because having a low crime rate and beautiful
weather will be irrelevant if high costs deplete ...
Add a comment...

Post has attachment
Federal and State Death Tax Updates
Death taxes are back in the news at the federal level as
well as in Delaware and Minnesota. What Happened to the
Death Tax Repeal Act of 2015? Back in February and March of 2015, identical bills calling
for repeal of the federal estate tax and generation-sk...
Add a comment...
Wait while more posts are being loaded