Month: July 2020

Testacy vs. Intestacy  At its most basic, a Last Will and Testament (“Will”) is a legal document that provides for the distribution of your assets (often referred to as your “probate estate”) upon your death. Generally, your Will does not control the disposition of non-probate assets on your death. Common examples of non-probate assets include […]

Updated August 17, 2022 In general, when one individual transfers money or property to another and does not receive an adequate return (i.e., makes a gift), the transfer is a potentially taxable event for the transferor. Such transfers made during life are inter vivos transfers subject to the federal gift tax, while such transfers made at […]