Keystone Lawfirm and Wealth partners

Raising Expectations While Lowering Taxes: 2017 Tax Reform

Posted on: October 13th, 2017 by Sheryl Keeme   Business  |  Income Tax  |  Law Updates  |  Taxes

In 2016, American taxpayers made one message loud and clear: it’s time to deflate our bloated tax code. Actions in D.C. have raised expectations for many Americans that upcoming tax reform will lower their tax burden. Goals President Trump campaigned on many issues, including the need for tax reform that lowered the burden on middle […]

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Do-It-Yourself: Great for Small Repairs, Dangerous for Estate Planning

Posted on: July 7th, 2017 by Sheryl Keeme   Estate Planning  |  Law Updates  |  Retirement  |  Uncategorized

Learning estate planning is quite a bit different than learning to replace a spigot on You-Tube. With so much information available online today from learning home repair hacks and even publishing your own book, it is tempting to try to do this for yourself. Making an appointment to see an attorney is hardly at the […]

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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 Will the estate tax be repealed?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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