WHEN CAN A HOUSE BE SOLD IN A PROBATE ESTATE?

By Howard H. Collens People often ask if they need to wait until AFTER a decedent’s estate closes in order to sell the deceased loved one’s house.  This is a common misconception and nothing could be further from the truth.  The sale process may be completed while the estate is open. When a loved one [...]

Estate Planning Tips for Homeowners

By Mallory Kallabat DID YOU KNOW: After your death, assets titled in your individual name cannot be transferred to your beneficiaries without probate court proceedings, which are time consuming and costly. Here are two ways homeowners can keep their homes out of probate court: Transfer Real Estate to your Revocable Living Trust: Real property titled in [...]

Effects of the New Tax Law on Estate Planning

by Michael P. Witzke,  Attorney At Law, McDonald Hopkins The new law takes effect for tax years beginning after 2017 and most provisions dealing with individual tax reform and transfer taxes are effective for taxable years 2018 - 2025. The Basic Exclusion Amount doubled from 5 million to 10 million (indexed for inflation). The estimated amount for [...]