Posted Monday, May 13, 2013 by John S. Palmer
The Obama Administration has proposed changes in both the tax rate and exclusion amount for federal gift, estate and generation skipping taxes that would apply to the estates of decedents dying after December 31, 2017. The changes are part of the… More >
Posted Thursday, May 9, 2013 by John S. Palmer
Owning undivided, fractional interests in assets is extremely common. Couples who own a home, for example, each own an undivided 50% interest in the whole property. And discount valuations (reducing the value of a taxpayer’s ownership interest in an… More >
Posted Tuesday, April 30, 2013 by John S. Palmer
The U.S. Tax Court has issued a decision illustrating the importance of obtaining proper documentation of charitable donations in excess of $250 if the donor intends to claim the donation as a tax deduction. In Villareale v. Commissioner (TC Memo… More >
Posted Friday, April 26, 2013 by John S. Palmer
A disinherited spouse has standing to participate in a will contest brought by other disinherited heirs, according to a new decision by the Washington Supreme Court. In Becker v. Estate of Becker (decided April 11, 2013), the court unanimously ruled in… More >
Posted Thursday, April 18, 2013 by John S. Palmer
The First Responder Will Clinic provides basic estate planning documents— wills, powers of attorney, and healthcare directives— for free to Washington police officers and firefighters (and their spouses or registered domestic partners). The next clinic… More >