Estate Planning Updates: Information on ILITS

by | | Estate Planning

Every estate planning professional needs to stay on top of all the various techniques when protecting their client’s assets. An “ILIT” is a trust that cannot be rescinded, amended or modified in any way after its creation. Once the grantor...

Is Your Client Competent to Make Legal Decisions? How Do You Know?

by | | Elder Issues, Estate Planning

Listed below are some of the more common tests for capacity, however, attorneys must ensure they keep up-to-date with the most recent statutory or common law capacity tests in estates and trusts law. Despite the many different legal tests for capacity, the fundamental...

What is the Attorney’s Role in the Assessment of Mental Capacity?

by | | Elder Issues, Estate Planning, Law Practice Managment

“What is the Attorney’s Role in the Assessment of Mental Capacity?” by Francis Burton Doyle, Esq., WealthPLAN It is not the role of an attorney to be an expert in capacity assessment of their client. However, an attorney can be involved in carrying out a “legal”...

The Higher $5,430,000 Per Person Estate Tax Exemption & Exemption Portability Creates Both Opportunities and Issues For Married Couples”

by | | Elder Issues, Estate Planning, Litigation/Mediation, Tax Planning

by Francis Burton Doyle, Esq., WealthPLAN     Since the beginning of 2013, the federal estate tax exemption has exceeded $5 million per person.  The current per person exemption for 2015 is $5,430,000. This means that a married coupled combined federal estate tax...

The Problem of the Disputed Joint Tenancy Bank Account

by | | Elder Issues, Estate Planning, Litigation/Mediation, Tax Planning

by Francis Burton Doyle, Esq., WealthPLAN           Many seniors reach a point in their lives when they wish to enlist the help of their children or friends in managing their financial affairs.  In many instances, this help includes assistance with the paying of their...

Animal Law: The Importance of Creating a Pet Protection Trust for Your Clients

by | | Estate Planning, Pet Protection Trusts

by  Francis Burton Doyle, Esq., WealthPLAN The field of “animal law” covers everything from companion animal issues in local communities (dog bites, dangerous dog issues, leash laws and breed specific legislation) to larger national and international...