Browsing All Posts filed under »Estate Planning«

Congress Avoids Fiscal Cliff And Passes First Major Tax Increase in Almost Twenty Years

January 3, 2013

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Early Tuesday morning, the U.S.  Senate passed a bill aimed at averting spending cuts and tax increases that comprised the dreaded “fiscal cliff.”  House Republicans were extremely critical of the bill for not including enough spending cuts.  However, the House approved the bi-partisan legislation under the extreme pressure of trying to avoid the fiscal cliff […]

Estate Planning For All Ages

November 9, 2011

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Typically, most people think of planning their estates and composing wills as a practice done only later in life. Taking the time to review how property is owned and determine how it will be distributed at death is thought to be necessary only when significant assets have been accumulated or when guardians need to be […]

What Happens To My Facebook Account When I Die?: Estate Planning In A New Age

August 31, 2011

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Estate planning can be an overwhelming process even if you’re just thinking of preparing a will, much less dealing with life insurance, retirement accounts, and planning for incapacity.  As a practice area at Red Mountain Law, we would like to offer helpful tips and instructions for responsible estate planning. When it comes to estate planning, […]

Time to Review Your Estate Plan: A 2010 Estate Planning Update

March 17, 2010

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The Economic Growth and Tax Relief Reconciliation Act of 2001 (“EGTRA”) repealed the federal estate tax effective January 1, 2010.  This “repeal,” however, only lasted for one year.  Without Congressional action, the federal estate tax returns to 2001 levels.  It was assumed by most that Congress would act at some point prior to the repeal […]

Leaving it all to the Dogs (or Cats or Goldfish….)

August 14, 2007

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A growing number of states recognize that, just like human beings, people’s pets can be protected by trusts. Under the Uniform Trust Code that became effective in Alabama in January, 2007, pet owners in Alabama also have that option.  As a result, more and more pet owners are sitting down with estate planning lawyers to […]

Seven Tips to Keeping Peace Among Your Heirs

April 25, 2007

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The Wall Street Journal Online has an informative article on "How to Keep Peace Among Heirs".  The article provides the following seven tips to minimize or resolve fights over your possessions: Gather family members to talk about who wants what while everyone is still in good health. Use a program called "Who gets Grandma’s Yellow […]