November 2012 Archives

Special needs trusts can protect assets, preserve benefits for disabled family members

One of the big reasons to make use of special needs trusts is to ensure that disabled individuals can continue to receive government benefits, such as Supplemental Security Income and Medicaid. Because one cannot have more than $2,000 in personal assets in one's name in order to qualify for these programs, there isn't much wiggle room to provide disabled children with assets directly without compromising their ability to qualify for government support.

Family of deceased Atlanta woman fights with minister over alleged contract

Our readers may be aware of the death of 92-year-old Kathryn Johnston, the Atlanta woman fatally shot by police during an illegal drug raid back in 2006. After enduring her untimely death, Johnston's family is now battling with a man of God in probate court over money.

Actor's probate ordeal good reminder to do careful estate planning

As our readers know, the body of the late actor Sherman Hemsley has been in legal limbo in the face of legal challenges to his estate. Thankfully, Hemsley's body will finally be put to rest, three-and-a-half months after he died from lung cancer.

Hurricane Sandy reminds pet owners to include pets in estate plans

Hurricane Sandy, besides being a potent reminder of the potential destructiveness of nature, was also a reminder of the need for including our pets in our estate planning. As our readers may have heard, a number of pets were separated from their families as a result of the storm. Many have been transported to shelters.

Estate, gift tax savings will change in 2013; may still be time to act

Our regular readers, and anybody that has been paying attention to the current state of the estate planning, know that big changes are in store for 2013 when it comes to estate tax. The long and short of it is that, come January, the current estate tax exemption of $5 million-technically $5.12 million when indexed for inflation-will decrease to $1 million.

George Lucas sale of LucasFilm a smart financial move, experts say

On Tuesday, it was announced that George Lucas-creator of the Star Wars films-agreed to sell his company LucasFilm to Disney for a total of $4.05 billion in cash and stock. Estate planning experts have said that the agreement was a wise decision on Lucas' part, since cashing out now allows him to remove from his family the burden of managing his empire once he's passed on.

Financial trusts: How to leave enough for your kids

Many Georgia families have an estate plan in place to provide guidance and support for current and future finances. Many also rely on trusts for specific estate planning goals. These goals can cover any number of things including protection of financial assets from tax liability, supporting charitable institutions and providing future security for a loved one.

Mr. Teiger, Thank you very much for your time and results. I will definitely recommend you & your firm to anyone who wants to be treated professionally courteously and needs results.Hope all is well.Again...thank you. Regards, Paul L.

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