Keystone Lawfirm and Wealth partners

We have a new president. Will the estate tax be repealed?

Posted on: November 9th, 2016 by Sheryl Keeme   Estate Planning  |  Income Tax  |  Law Updates  |  Taxes  |  Uncategorized

The small percent of people in this country whose assets would be subject to the US estate tax have been waiting for a Republican president for eight years who could finally repeal this tax. While getting this accomplished is still a difficult task with any president, but it will be a somewhat easier sell now […]

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IRS Proposed to all but eliminate valuation adjustments

Posted on: August 5th, 2016 by fsirvent   Estate Planning  |  Law Updates  |  Taxes

YIKES!!! Getting a valuation adjustment (a discount) for certain family owned businesses has been a critical planning strategy in avoiding an estate tax after someone’s death.  Well…the IRS is proposing to eliminate that strategy. Just yesterday, in the Federal Register, the IRS proposed new regulations that would all but eliminate valuation adjustments.  This would apply […]

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Free Chandler, AZ Community Education Program

Posted on: May 28th, 2015 by Sheryl Keeme   Estate Planning  |  Law Updates  |  Uncategorized

   Click here to watch a brief video about how to be sure your belongings go where you want them to. FOR IMMEDIATE RELEASE: May 28, 2015 Free Chandler, Arizona Community Education Program – Estate Planning 12 Deadly Sins of Estate Planning and How to Avoid Them CHANDLER, AZ–Chandler Estate Planning Attorney, Francisco Sirvent, has […]

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Death Tax Repeal Act of 2015 – What should you know?

Posted on: April 14th, 2015 by Sheryl Keeme   Estate Planning  |  Law Updates  |  Uncategorized

Once again, Congress is at work to eliminate the death tax that has been in place (this time) since 2013. The Death Tax Repeal Act of 2015, if enacted as it is written, eliminates the federal generation skipping transfer tax, too. Long decried by a super majority of voters—Democrats and Republicans alike–the death or estate […]

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ABLE Act – new law for special needs planning

Posted on: January 19th, 2015 by fsirvent   Law Updates

Congress recently passed the ABLE Act, or more formally known as the “Achieving a Better Life Experience Act of 2014.”  The stated purpose of this act is: (1) To encourage and assist individuals and families in saving private fundsfor the purpose of supporting individuals with disabilities to maintain health,independence, and quality of life.(2) To provide […]

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“Joint Ownership” can be a bad idea

Posted on: January 15th, 2015 by fsirvent   Law Updates

Have you heard of anyone putting their adult child on their bank account?  Usually it is done with the idea that if something happens to them, the child will have immediate access to some funds to pay bills or travel costs.  You know who else loves this type of planning?  Your child’s creditors. The largest […]

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Annual Gift Tax Exclusion Reduction Proposal

Posted on: March 10th, 2014 by fsirvent   Law Updates

President Obama has filed his FY2015 budget proposal.  This budget includes a significant change to the annual gift exclusion per donor and donee to a yearly cap of $50,000 TOTAL annual gift exclusion per donor. Current law allows $14,000 annual gift exclusion per donor to a specific donee (person receiving a gift).  This proposal would […]

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Naming a trustee for lifetime beneficiary trusts

Posted on: March 2nd, 2014 by fsirvent   Law Updates

When leaving an inheritance in a trust for beneficiaries’ lifetime, the money or property you leave them can be protected from their own creditors, lawsuits, bankruptcy, and even divorce. When using this option, however, you must consider who the trustee of that trust will be during the beneficiary’s life. Categorically speaking, there are only three […]

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Veterans Pension benefit

Posted on: February 28th, 2014 by fsirvent   Law Updates

In case you need to know the dates of eligibility for the VA Improved Pension benefit: Under current law, VA recognizes the following wartime periods to determine eligibility for VA Pension benefits: World War I (April 6, 1917 – November 11, 1918) World War II (December 7, 1941 – December 31, 1946) Korean conflict (June […]

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Have you been defrauded?

Posted on: February 21st, 2014 by fsirvent   Law Updates

Ever felt like you were cheated in a purchase?  Or like something was hidden from you?  Arizona law protects buyers from “fraud”.  But what is fraud, legally speaking?  A recent case from our Appellate Court explained it this way: “When one is asked a question that fairly calls for disclosure of a material fact, he […]

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