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How to Select the Right Probate Attorney

[vc_row triangle_shape="no"][vc_column][vc_column_text]The probate process can be overwhelming for individuals who are grieving due to the passing of a loved one and confronted with the prospect of an unknown protracted court administration. Probate, or the court supervised administration of a decedent’s estate, whether they died with a will or without a will (testate vs. intestate) is a very formalistic and statutory governed practice. [/vc_column_text][vc_empty_space][mkd_blockquote text=" It is critical that you have the right counsel when navigating these water that are sometimes murky and turbulent." title_tag="h3" quote_icon_color="#262a4a" border_color="#262a4a"][vc_empty_space][vc_column_text]So how do I know if you have the right guy or gal as your probate attorney?  Well...

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Relationship Between Estate Taxes and Gift Taxes Explained

In my prior blog several months ago, I explained in general terms the rules concerning lifetime gifting and potential gift taxes associated with such gifts. I now move on to the estate tax. The estate tax and gift tax are linked at the hip, so to understand the estate tax, it’s necessary to lay some groundwork by explaining the relationship between the estate and gift taxes. Under current law, each US citizen, (as well as resident aliens, and we are talking legal resident aliens here), has an exemption from the gift tax of $5.49 million. This means that, in addition to...

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Las Vegas Attorney Robert Graham Allegedly Disappears with Millions of Client Money

It's very important to have a reputable attorney for your probate needs. This article is an example of a possible worst-case scenario. Whether or not the allegations are true will remain to be seen. At Grant Morris Dodds, we believe in being beyond reproach. Thousands of clients have trusted us over the years with their probate court & probate needs. Read the details from the Las Vegas Review Journal article here....

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What is Probate?

[vc_row triangle_shape="no"][vc_column][vc_column_text]You have likely heard the term “probate” used in the context of handling a person’s affairs upon their death.  Probate is indeed the administering of a decedent’s estate through a formal legal process usually under the jurisdiction of a specific court.  For example, in Nevada that court is simply called probate court.   Here are a few things you may want to know about the probate process:   1. Probate is not for everyone.  Specifically, those individuals who have created and properly funded a trust during their lives may be able to avoid the formal probate process.  Don’t think creating a trust...

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Saving on Estate and Income Tax by Gift Giving

There is a lot of confusion out there, even among many of our most astute clients, concerning estate tax rates, estate tax exemptions, annual gift exemptions and lifetime exemptions. So to begin, here are the exemptions for 2016, and where applicable for 2017. Annual gift exemptions Annual gift exemption remains at $14,000. This means that you may give to any number of different people up to $14,000 per year without any need to report the gift, unless you make other gifts which cause you to exceed this limit. So let’s say you are married, have 2 children and 3 grandchildren. You may...

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How to Create a Living Will and Why it’s Important

What Is A Living Will? A living will (sometimes called an Advanced Directive, Healthcare Directive, Directive to Physicians, or DNR Order) is a legal document that any person with capacity can execute to inform physicians, first responders, or even family members of their wishes and preferences as relating to emergency or end-of-life medical care in the event that person is not able to make or communicate those wishes. Is It Important For Me To Have A Living Will? No one likes to think about getting older, getting sick, or even becoming incapacitated.  However, accidents and unforeseen events happen every single day and all...

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Estate Planning and the Capital Gain Tax

Back in the heyday of estate planning when just about everyone who died owning a home and an IRA would have an estate subject to this tax, the choice between paying estate tax versus paying capital gain tax was an easy one to make. Up until the last few years, the highest estate tax bracket was 55% and the top long-term capital gain tax bracket was only 15%. If you had a choice of paying the estate tax or paying the capital gain tax, the capital gain tax was the obvious choice. This choice was really so clear-cut that most of...

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