Blog - "Altman Speaks"

Art Heists: The Importance of Due Diligence for Art Collectors and Enthusiasts

Do you own artwork? Have you transferred it into your Revocable Trust? Mentioned it in your Last Will and Testament? Great! But, you may need to do more! Art heists make for unbelievable stories; In 2004, thieves stole the Edvard Munch Scream and Madonna from the Norwegian Munch Museum. In 2010, Van Gogh’s Poppy Flowers was taken […]

Treasury Proposing New Regulations on Minority Discounts in Family Controlled Entities

The Treasury has issued proposed regulations under Internal Revenue Code Section 2704 that would result in significant changes to the valuation of interests in many family-controlled entities for estate, gift, and generation-skipping transfer tax purposes. If adopted, they would eliminate almost all minority (lack of control) discounts for closely held entity interests, including active businesses, owned […]

Limiting Liability When Serving as a Personal Representative (Executor)

Family members are often appointed to serve as the Personal Representative (or Executor) of a loved one's estate. This role can be extremely challenging, especially in instances where its discovered that the person's financial affairs are in disarray. One all-too-common scenario, for example, is finding out that the loved one failed to file taxes for years leading up to their death. What […]

Digital Asset Planning: Who Will Care for Your Pokémon When You're Gone?

If you've been outside at all this week, there's a good chance you've noticed plenty of people (adults, not just children!) wandering around while staring down at their phones. Indeed, the new Pokémon Go craze has turned neighborhoods around the world into scenes from a zombie apocalypse movie. Sure, it seems like fun, but it's risky to walk the […]

My Kid is Heading to College – Should We Do Any Estate Planning?

So, your kid is off to college. Congratulations! What estate planning documents, if any, should he or she have? Ideally, he or she should have a Financial Power of Attorney, an Advance Medical Directive, and a HIPAA Release Form (this is the minimum, circumstances may alter the need). If your kid names you, the parent(s), […]

What is a Revocable Trust and Should I Have One?

Revocable trusts, which are also known as “living trusts” or “loving trusts” are legal documents used in estate planning. In simple terms, a revocable trust is a trust that is created during your lifetime. It is a written agreement that appoints a trustee to manage and administer property that has been transferred to them. Revocable […]

Elder Abuse Through Financial Exploitation is on the Rise

Recognize areas of vulnerability and protect yourself The trial over media mogul Sumner Redstone’s mental competence raises questions regarding financial exploitation and the issue of undue influence. Reports of financial abuse of older adults have increased dramatically over the past decade and this often leads to other forms of elder abuse. While the legal battles […]

Estate Sale Planning is Often an Emotional Process

Tips to Help You Prepare and Cope Anyone who has had difficulty parting with an old worn T-shirt or a favorite pair of ripped blue jeans understands the emotional connections that can be attached to material belongings. Throughout the various stages of life we collect things. Old postcards or knick-knacks from family trips represent special […]

Maryland Cracking Down on "Cool Parents" Who Allow Teens to Drink Alcohol

Maryland adults who knowingly and willfully allow underage persons to drink alcohol in their homes now run the risk of being sued. Referring to it as "social host responsibility," Maryland's highest court ruled that adults can now be held liable to third parties if a minor gets hurt or hurts someone else after consuming alcohol […]

Exercise Caution When Borrowing Against a Whole Life Insurance Policy

A whole life insurance policy can be a useful and versatile part of an estate plan. It grows in value over time, increasing the value of the asset left to your loved ones in the event of your passing. Adding to its appeal is that you can borrow against the policy when needed and the time […]

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Recent Posts

Art Heists: The Importance of Due Diligence for Art Collectors and Enthusiasts

Treasury Proposing New Regulations on Minority Discounts in Family Controlled Entities

Limiting Liability When Serving as a Personal Representative (Executor)

Digital Asset Planning: Who Will Care for Your Pokémon When You're Gone?

My Kid is Heading to College – Should We Do Any Estate Planning?

What is a Revocable Trust and Should I Have One?

Elder Abuse Through Financial Exploitation is on the Rise

Estate Sale Planning is Often an Emotional Process

Maryland Cracking Down on "Cool Parents" Who Allow Teens to Drink Alcohol

Exercise Caution When Borrowing Against a Whole Life Insurance Policy

« Previous 1 … 32 33 34 35 36 … 77 Next »