Posts Tagged ‘Financial assets’

IRS Rules that Bitcoins are Not Money

One of the main principles of modern currency is that it must be “fungible” to be considered as money, which means that one unit, say a $100 bill, is able to replace or be replaced by any other $100 bill; that the two are, in essence, identical and mutually interchangeable. Based on that fact, the…

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New IRS Tax Laws Increase Many Trusts' Tax Bills

We recently discussed changes proposed in President Obama’s 2015 budget that would modify Estate and Gift Tax provisions established in the American Taxpayer Relief Act or ATRA, which was passed by Congress in 2013. The proposal, which would take effect in 2018, would restore the Estate, Gift, and Generation-Skipping Transfer (GST) tax rates and parameters…

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Exploring Myths & Misconceptions About Wills and Trusts

As much as we try to simplify the process for you, it can be difficult to sort through all the confusion about estate planning documents and the probate process. In an article posted on, Florida Trust Attorney Robert D. Schwartz provides an insightful explanation of common misconceptions about wills and trusts. According to Schwartz,…

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New Mississippi Bill to Allow Dynasty Trusts for First Time

The Jackson (MS) Clarion Ledger reported last week that a bill before the state Senate would allow the establishment of “Dynasty Trusts” designed to avoid or minimize estate taxes for the first time. The bill has already passed through the House.1 House Bill 891 has to be approved by the full Senate for the bill…

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Overview of Virtual Estate Planning System (VEPS)

Virtual Estate Planning System Overview

Our online Virtual Estate Planning System (VEPS) is your portal to securely create, store, update, and share an estate plan that will help protect your legacy and your family for generations to come. The first step of the legacy planning process is to create the traditional set of estate plan documents that will cover the…

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