by Manish C. Bhatia | Jun 2, 2013 | News + Trends
While an inheritance is often considered a gift by the recipient, from a tax perspective, there optimal ways to inherit a retirement account. From the language used to designate the beneficiaries to important IRS-imposed deadlines, the manner in which a retirement...
by Manish C. Bhatia | Apr 30, 2013 | News + Trends
On January 2, 2013, President Obama signed the American Taxpayer Relief Act of 2012 (the “ATRA”) into law. Failure to pass the new law would have resulted in a significant decrease in the estate and lifetime gift tax exemptions and a significant increase in the...
by Manish C. Bhatia | Apr 1, 2013 | News + Trends
Most people first encounter probate when a loved one passes away (the “decedent”) and his or her assets need to be transferred. Probate is the process by which the county court validates an individual’s Will, if he or she left one, and approves the distribution of...
by Manish C. Bhatia | Feb 28, 2013 | News + Trends
In 1998, Ray Fulk of Lincoln, Illinois (Logan County) had a Will prepared. Fulk was never married and never had any children. His primary asset was a 160-acre farm property, which he had inherited from his late father, who passed away in 1997. Fulk enlisted the...
by Manish C. Bhatia | Feb 1, 2013 | News + Trends
On January 2, 2013, President Obama signed the American Taxpayer Relief Act of 2012 (the “ATRA”) into law. Failure to pass the new law would have resulted in a significant decrease in the estate and lifetime gift tax exemptions and a significant increase in the...
