529 College Savings and Qualified Tuition Plans (QTPs). 529 plans are ubiquitous in the planning world. But don’t let the fact that they are so common lull you into thinking there aren’t technical pitfalls. You can contribute up to $12,000 per year per person to such plans, and even front load five years at…
Springing Powers: What if you’re uncomfortable handing over all rights to a child now under a power of attorney while you are still capable of managing your own affairs. Is a springing power of attorney the answer? A springing power is a power of attorney that only becomes effective if you (the grantor or…
Summary: Fox has a great new show that could be the paradigm for future IRS audits. Forget IRS agents and field audits, when your number’s up…onto the show you go. You’ll be strapped to a lie detector and asked a series of questions by an IRS polygraph expert. You want your refund, you have…
Summary: To sign a will you must have testamentary capacity. You must know the nature of your assets and the objects of your bounty. To sign a trust and many of the complex estate planning documents, you need sufficient competency. If not, the documents will be invalid and the planning ineffectual. The best advice…