As virtual currencies like Bitcoins become more popular, even the IRS has recognized the possible value in these assets. As the owner of any kind of digital asset, you should also be aware of how to properly include these in your estate plan. Along with this goes avoiding one of the most common mistakes made with digital assets: failing to tell your beneficiaries about them.
Other kinds of assets, like stocks, bonds, real estate, and retirement plans have been part of the estate planning arena for so long that planning attorneys and trustee administrators are well versed in how to deal with them, even when beneficiaries are not entirely clear of their existence or worth. They also tend to be easier to hunt down if necessary, but the virtual world can be complex and heavily password protected.
August 29, 2014 | Don’t Make This Mistake With Digital Assets
As virtual currencies like Bitcoins become more popular, even the IRS has recognized the possible value in these assets. As the owner of any kind ...
Learn MoreAugust 28, 2014 | Doctors & Gun Collectors: How to Plan for Special Assets
In many cases, and especially for business owners, there are assets in an estate plan that require special consideration. For example, a company that requires ...
Learn MoreAugust 27, 2014 | Will You Be Impacted by the New Jersey Death Transfer Tax?
When it comes to high-dollar decisions about estate planning, many people wrongfully believe they are not included because the federal tax exemption of $5.34 million ...
Learn MoreAugust 26, 2014 | Especially For Those In N.J. & C.A.: Personal Tax Inversions to Avoid State Income Taxes
Take a look at the articles out there on either side of the issue and you’re likely to find compelling arguments for and against the ...
Learn MoreAugust 25, 2014 | Robin Williams’ Trusts Call for Conversation About Trust Privacy
The loss of Robin Williams last week certainly sent ripples across the country, but it also highlights an important topic for your estate plans: privacy. ...
Learn MoreAugust 22, 2014 | Back To School Tips: Important Documents for Parents of New College Students
There’s no doubt that your mind is already pretty preoccupied with many different lists of supplies, last-minute shopping, and packing with your new college student. ...
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August 6, 2014 | Beneficiaries
While there is a great deal to celebrate getting ready for your wedding, don’t neglect this excellent opportunity to delve into your estate planning as ...
Learn MoreAugust 5, 2014 | Estate planning
As trusts have gotten more popular and evolved in type to appeal to a lot of people, so now you might be under the impression ...
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August 4, 2014 | Asset Protection Planning
Right now, gift and generation skipping transfer tax exemptions, set at $5.34 million each, have caused a resurgence in interest regarding self-settled trust. As of ...
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August 1, 2014 | Asset Protection Planning
Offshore account taxpayer Ashvin Desai was recently sentenced to six months in prison in addition to six months of home confinement for not reporting foreign ...
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