In the case of In Re Mutchler, PICS Case No. 14-0258 (C.P. Monroe County, Jan. 7, 2014) the Honorable David J. Williamson denied the petition of the heirs to the Estate of Star Mutchler to remove the executor, alleging that he... Continue Reading
This case is a clear example of when a family law attorney needs to understand the rights of a surviving spouse of a deceased spouse including the right to elect against his/her will, rights to spousal benefits in his/her... Continue Reading
Estates of decedents who die during 2014 have a basic exclusion amount of $5,340,000, increased from the $5,250,000 exemption for estates of decedents who died in 2013. Reference: Probate and Trust Law Section Newsletter of... Continue Reading
Because of the high interest rates, children with access to a trust are more likely to tap into trust funds to buy a house. This alternative can buy a home outright, or prevent people from taking out large mortgages. Borrowing... Continue Reading
“Portability” is a concept under the transfer tax laws of the Internal Revenue Code. Specifically, portability allows a surviving spouse to use a deceased spouse’s unused federal gift and estate tax exclusion (up to $5.34... Continue Reading