Do You Need to Explain Your Choice for Guardian?

November 03, 2014  |   Posted by :   |   Estate Planning,Guardian,Lifetime Planning   |   0 Comments

For parents of minor children choosing who will serve as guardian is one of the most important estate planning decisions. The guardian is the person responsible for making legal and parental decisions for your minor children. Complicating this difficult and personal decision is when family members or friends that expect to be the chosen are […]

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IRS Releases Inflation-Adjusted Figures for Estate and Gift Taxes for 2015

October 31, 2014  |   Posted by :   |   IRS Updates,Taxation   |   0 Comments

Each year the IRS releases the inflation-adjusted numbers for several estate and gift transfer tax items. The new numbers for 2015 have recently been released and are the following: • The lifetime gift tax and estate tax exclusion will increase from $5,340,000 to $5,430,000 in 2015. • The generation-skipping transfer tax exemption will also increase […]

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DC Estate Tax Exemption to Increase to $2 Million in 2016, $5 Million+ as Revenue Permits

June 24, 2014  |   Posted by :   |   DC,Estate Planning,Estate Tax,State Statutes,Tax Changes,Taxation   |   0 Comments

DC Council Raises Estate Tax Exemption to $2 Million in 2016 $5 Million+ in 2016 or Later as Revenue Permits On Tuesday, June 24, the DC Council approved sweeping tax cuts, including changes to the District’s estate tax. The tax law changes were approved overwhelmingly on the Council’s “Second Reading” of the tax bill. The […]

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Stan Majors Selected as a 2014 Virginia Super Lawyer

June 13, 2014  |   Posted by :   |   The Majors Law Firm   |   0 Comments

Stanley E. Majors The Majors Law Firm, PLLC is pleased to announce the selection of Stanley E. Majors as a Virginia Super Lawyer in the area of Estate Planning & Probate. Stan is licensed to practice law in Virginia, Maryland, and the District of Columbia and is experienced in all aspects of estate planning and […]

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Supreme Court Holds that Inherited IRAs are Not Protected in Bankruptcy

June 12, 2014  |   Posted by :   |   The Majors Law Firm   |   0 Comments

On June 12, 2014, the United States Supreme Court in Clark v. Rameker, 573 U.S. ___ (2014) unanimously ruled that retirement funds inherited by a beneficiary are not protected “retirement funds” within the meaning of bankruptcy law. As a result, unless the debtor lives in one of the few states that specifically protect inherited IRAs […]

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