The National Law Forum

The Blog of the The National Law Review

Tag Archives: estate planning

The Artist’s Legacy – Gifts of Art to Family and Friends

On January 1, 2015, the gift and estate tax exemption increased to $5.43 million per person and to $10.86 for a married couple.  Artists who hope to take advantage of the increased exemption face unique challenges when making gifts to family and friends of visual art they have created.  Although specific situations can differ widely, …

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The Artist’s Legacy – Business and Legal Planning Issues

Photographers face unique issues that must be carefully considered to ensure a continued market for the creative output and to preserve the artistic reputation. Prudently managed business affairs will minimize problems commonly encountered when closing down a studio and during the transition of business affairs from the photographer’s life to the photographer’s estate. First, there …

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2014 Year-End Illinois Estate Planning: It’s Time for a Careful Review

As 2014 comes to a close, now is the perfect time for careful planning to address the income, estate, gift and generation-skipping taxes that can directly affect you.  In addition to making sure your estate plan is up to date, making a few important decisions now can reduce your tax liability later. Transfer Tax Exemption …

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Are iWills The Way of the Future?

Smartphones sure make lives a lot easier (and, arguably, busier). With a few taps of a screen, individuals can do everything from checking the weather to buying stock to engaging in FaceTime across the world. One individual in Australia recently came up with another innovative use for his smartphone. He used it to prepare his …

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In Estate Planning, Where There’s a Will There’s a Way

An August 15, 2014 article, by Robert Wood, in Forbes.com, told how many large companies, such as GM and Merck, pay zero taxes. It told how Apple avoided $9 billion in US taxes in 2012, according to a US Senate Report issued in 2013. In the estate world, billionaires such as George Steinbrenner, the Yankees …

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