The Practice of Law or Not the Practice of Law, That is the Question

By Virginia H. Grigg This material was originally prepared for and presented at the Connor-Zaritsky 40thAnnual Advanced Estate Planning and Administration Seminar sponsored by Virginia CLE. As attorneys, we do not have to worry about engaging in the unauthorized practice of law (UPL) because we are licensed to practice law in our given jurisdictions.  However, we have … Continue reading The Practice of Law or Not the Practice of Law, That is the Question

Taite, Freedom of Disposition v. Duty of Support: What’s a Child Worth?

Phyllis C. Taite has made available for download her article, Freedom of Disposition v. Duty of Support: What's a Child Worth?, published in the Wisconsin Law Review. The Abstract is as follows: Mandating financial responsibility for the care of children during one's lifetime is without question. Child support laws have been implemented in every state … Continue reading Taite, Freedom of Disposition v. Duty of Support: What’s a Child Worth?

Caldwell, The Documents Your Young Adult Child Needs

Caldwell describes how, after a child turns 18 and assumes the status of a legal adult, parents no longer have the authority to make medical decisions for their child. Caldwell writes, "unless your child has named you as his or her patient advocate under a patient advocate designation, you can be left powerless at the … Continue reading Caldwell, The Documents Your Young Adult Child Needs

The Virtual Family Office and Personal Financial Planning

By Susan M. Tillery Many consumers, as well as professional advisers, continue to think of personal financial planning as a tool to gather assets under management (AUM) or to sell products; however, CPA personal financial planners have developed a fee-for service model which offers integrated personal financial planning without AUM or product sales.  This model embodies … Continue reading The Virtual Family Office and Personal Financial Planning

Shumaker, The Estate Planner: Keeping Trust Secret, Moving Mom to the Nursing Home, Clients Drafting Their Own Estate Planning Documents

Shumaker, Loop, & Kendrick, LLP, has made available for download the September-October 2019 issue of The Estate Planner. Topics covered include "Is Silence Golden? The good and bad of keeping your trust a secret," "Qualified Opportunity Funds: Estate planning implications," "Coming to a family consensus on moving a parent to a nursing home," and "You’re … Continue reading Shumaker, The Estate Planner: Keeping Trust Secret, Moving Mom to the Nursing Home, Clients Drafting Their Own Estate Planning Documents

Smith, Exploiting the Charitable Contribution Deduction’s Hypersalience

Eric Smith, Weber State University, has made available for download his article, "Exploiting the Charitable Contribution Deduction's Hypersalience," published in the Utah Law Review. The Abstract is as follows: Hypersalience describes the cognitive error that occurs when taxpayers are highly aware of a tax provision generally, but fail to correctly perceive its associated limitations. The … Continue reading Smith, Exploiting the Charitable Contribution Deduction’s Hypersalience

Steve Gorin, Basis step-up: Planning for married couples

Gorin outlines how, "When a married person dies and passes assets outright or in a qualifying trust for the surviving spouse, those assets receive a new basis (hopefully a step-up instead of a reduced basis) but, due to an unlimited marital deduction, are not subject to estate tax. At the surviving spouse’s death, for estate … Continue reading Steve Gorin, Basis step-up: Planning for married couples