Our Promise to You During COVID-19/Coronavirus At Kuhn and Kuhn Law Firm, the health and safety of our clients, team members, and friends of the law firm are top of mind amid concerns about the spread of the Coronavirus (COVID-19). As estate planning and elder law attorneys, our practice is dedicated to serving our most vulnerable citizens, including seniors, those who are ill, disabled, experiencing mental health challenges and children with special needs. The uncertainty around the … [Read more...] about Preparing for Coronavirus
Nobody wants incapacity, not for yourself and not for your loved ones. But planning for that possibility can avoid complications and increase options. The article discusses the elements of incapacity planning and the need for flexibility to do Medicaid planning. It discusses how a trust with Medicaid triggers can allow that. Incapacity Planning … [Read more...] about Incapacity Planning
ABLE accounts provide tax benefits and flexibility to disabled people. ABLE accounts are available to those disabled before age 26. Read on to learn more about ABLE accounts and how they can be used with a Special Needs Trust for maximum advantage. Special Accounts for People with Special Needs … [Read more...] about Special Accounts for People with Special Needs
Trusts are useful vehicles both during life and after death. This article examines how trusts are income taxed. Grantor trusts are taxed to the grantor, regardless of whether the income is distributed to them. Nongrantor trusts are separate taxpaying entities but get a deduction for distributions to beneficiaries. Read the article to learn more. How Are Trusts Taxed? … [Read more...] about How Are Trusts Taxed?
Thanksgiving is a time for sharing. This article examines ways for giving effectively, both to loved ones or to charity. It examines the use of 529 plans and ABLE accounts for loved ones. It examines gifting of appreciated assets to charity and bunching charitable deductions for the most bang for the buck. Read on to learn more. Being Thankful and Sharing Your Blessings … [Read more...] about Being Thankful and Sharing Your Blessings
Giving back provides many benefits, whether in life or at death. The article explores ways of giving back and some of the tax benefits available, both during life and at death. The article provides a couple strategies to maximize the tax benefits, such as grouping deductions and doing a charitable IRA rollover. Giving Back … [Read more...] about Giving Back
If you’re young and unmarried, do you really need an estate plan? The answer is “yes,” if you care what happens to you and your stuff. Read on to find out how an estate plan can help someone who is young and unmarried. Estate Planning is for You, Not Just Your Parents or Grandparents … [Read more...] about Estate Planning is for You, Not Just Your Parents or Grandparents
Incapacity Planning in Your South Carolina Estate Plan from John Kuhn Though you may not want to think about the possibility of becoming incapacitated, you should because your loved ones may suffer if the worst does happen and you failed to plan for the possibility. Learn more about incapacity planning in South Carolina in this presentation. … [Read more...] about Incapacity Planning In Your South Carolina Estate Plan
A comprehensive estate plan should do more than just provide a roadmap for the distribution of your estate assets when you die. In fact, your estate plan can help further a number of related goals and objectives. The additional components you incorporate into your estate plan will depend on your individual goals and objectives. Incapacity planning is one of the most common additions to a thorough estate plan. If you plan to incorporate incapacity planning into your estate plan you will likely … [Read more...] about Why Is a Living Trust Better than a Power of Attorney?
Another important reason to consider including a funeral plan in your comprehensive estate plan is that funerals are expensive. The average, “no-frills” funeral service runs about $6,000. Upgrades and extras can easily push the tab to over $10,000 – and that is not including the burial plot or cremation services. The death of a loved one, even when expected, is a deeply emotional time when people typically don’t think clearly. Topics covered in this report include: I’ve Discussed What I Want … [Read more...] about Free Report: South Carolina Funeral Planning: Why It Should Be Part of Your Comprehensive Estate