Adjusted basis vs. Carryover basis There is an adjustment to the income tax basis of inherited assets received by an heir upon the death of the owner. However, if the asset is transferred by a lifetime gift, there is a carryover income tax basis. For example, let’s...
If you are reading this, you have suffered a loss and have our condolences at LeonardLaw. After the death of a family member, credit and identity theft is likely not top of mind. However, this is a growing problem and it’s important to provide a death notice to credit...
Consider using this checklist as a starting point for thinking about what you would want your designated health care agent to know if they need to act to make decisions on your behalf. This is an evolving conversation and you are encouraged to discuss this...
After arranging your accounts and property with an attorney, it is easy to assume that you have checked estate planning off of your list forever. The reality is not so simple. Not only do tax laws frequently change, but so does your life. The smallest change could...
