Potential 1031 Exchange Extensions for Taxpayers Affected by Hurricane Irma

mgoodwinlaw@gmail.com Estate Planning

Taxpayers affected by Hurricane Irma may qualify for tax relief from the IRS. In response to the President’s declaration of a major disaster qualifying for assistance by FEMA in the State of Florida, the IRS has issued tax relief Notice FL-2017-04 (last updated September 15, 2017), which in part extends tax-related deadlines that are due to be performed on or after September 4, 2017 and before January 31, 2018.

IRS Announces Relief to those affected by Hurricane Irma

mgoodwinlaw@gmail.com Estate Planning

IN THE WAKE OF HURRICANE IRMA, THE IRS IS TAKING ACTION. Internal Revenue Code Announcement 2017-13 provides relief to victims of Hurricane Irma, which caused damage to Florida and several other areas.  It permits easier access to victims’ funds held in workplace retirement plans and in IRAs, for the period beginning September 4, 2017, and ending January 31, 2018.  The …

Got Stuff? George Carlin Says You Need An Estate Plan!

mgoodwinlaw@gmail.com Estate Planning

George Carlin would have been a great pitchman for estate planning. You may remember his stand-up routine on “stuff.” We all have stuff, and we’re pretty particular about our stuff. We move it around with us, it’s hard for some of us to get rid of it, and some of us don’t like our stuff mixed up with other people’s …

Top 2 Ways Courts Get Involved in Your Estate, and How to Avoid Them

mgoodwinlaw@gmail.com Estate Planning

Nobody wants unnecessary court involvement in their life. But without careful and proactive estate planning, chances are that some aspect of your estate will end up being decided there. Here are two of the most common ways court proceedings can make their way into the management and distribution of your assets, along with the estate planning measures you can take …

Your Quick Guide to Trump’s tax plan

mgoodwinlaw@gmail.com Estate Planning

Here’s what you need to know about planning your estate under the incoming Trump administration and Republican-controlled Congress. For starters, Here are several of the proposed changes from Trump’s tax plan  that we will potentially see rolling out during his administration: The repeal of the estate tax Lower income tax rates The introduction of a tax deduction for childcare costs Dependent care savings …

NEW Studies show electronic health records routinely fail to give doctors access to advance directives.

mgoodwinlaw@gmail.com Advanced Directives, Estate Planning

All our estate planning clients receive a free membership in the DocuBank advance directives registry to make sure their advance directives are always available at the hospital. New studies prove the importance of this access. Two new studies show that ER doctors are almost never able to find their patients’ advance directives in Electronic Health Records (EHRs). This is a …

Why Your Estate Planning Project Must Morph into a Process

mgoodwinlaw@gmail.com Estate Planning

  Most, if not all, people put their estate plan on their to-do list as a one-time project: “Create estate plan” or “Meeting with lawyer 10:30 a.m. Thursday for estate plan.” Thinking of your estate plan as a single project or task to complete and move off your list is a common approach – but it’s also an approach that can land …

Is a Financial Plan Enough? Why Experts Say You Need an Estate Plan, Too

mgoodwinlaw@gmail.com Estate Planning

Anyone who wants to leave a long-lasting financial legacy for their family needs more than a financial plan, which is only part of the big picture for your overall monetary health. A well-informed financial plan is worth your time for several reasons, but let’s look at how financial and estate planning can work in tandem to create the best possible future for …

Did you include your grandkids in your will? 5 Tips to Avoid Common Problems

mgoodwinlaw@gmail.com Estate Planning

As we build wealth, we naturally desire to pass that financial stability to our offspring. With the grandkids, especially, we often share a special bond that makes us want to provide well for their future. However, that bond can actually turn into a weakness if proper precautions aren’t set in place. If you’re planning to include the grandchildren in your …

To-Do List for After a Loved One Dies

mgoodwinlaw@gmail.com Estate Administration, Estate Planning

If you’ve been appointed an executor of a loved one’s estate, or a successor trustee, and that person dies, your grief – not to mention your to-do list, including tasks ranging from planning the funeral, coordinating relatives coming in from out of town and (eventually) meeting with a trust administration or probate lawyer – can be quite overwhelming. First and …