In any year, assets passing from a decedent to his or her surviving spouse do so tax-free because of the unlimited marital deduction. The potential tax consequences come into play when the survivor eventually dies. A common estate planning strategy is for the predeceasing spouse to leave the most assets possible in a bypass trust […]

In a previous post I talked about the state of the economy and its effect on the legal services industry, particularly job losses for large firm attorneys. But elder law attorneys are suffering a double-whammy. Not only is the recession having an impact, there’s also competition from online services offering cut-rate, do-it-yourself wills and trusts. […]

With the decline in the economy, thriving law practices are becoming fewer and farther between. In fact, many lawyers are struggling just to stay afloat. It can be tempting in this situation to accept any case that walks through the door, just to keep some revenue coming in. Don’t give in to this temptation…it can […]

Every estate planning attorney is well aware that the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) will sunset on December 31, 2010. So far, the most-discussed provisions of the Act have been the estate tax provisions. However, there is much more to EGTRRA than the estate tax provisions. A number of income […]

 Think about the dominant estate planning firm in your market. If it’s not yours, then the truth is, you’re fighting for scraps. If you want to become the dominant firm in your market, you need to re-think your methods for getting and dealing with clients. The first step is to stop following the crowd. It […]

When you graduated from law school, what did you imagine the practice of law to be like? Especially if you own your firm, my guess is you’d say your day-to-day life as a practicing attorney bears little resemblance to the picture you had in your head back then. Did you leave law school with dreams […]

“Can an ex-spouse (divorced) of a veteran receive pension with aid and attendance after the veteran dies?”  “In Florida, you must be married to the Vet at the time of his death to be eligible for benefits.” Frequently I will receive emailed questions about veterans benefits or receive a general posting on a list serve.  […]

Imagine how many Will contests would be eliminated if the testator were available to say that his Will accurately expressed his intentions. Now, in some states it’s possible to do just that – even without a séance! Earlier this summer, Alaska became one of just a few states to give testators the option of validating […]

The accident was horrible. One of our DocuBank Members was driving home with her husband when their car was hit by an oncoming truck.  The wife was injured and was taken to a local hospital, but her husband had sustained far more serious injuries and was taken by helicopter to the trauma unit at a […]

What sets your firm apart from all the other law firms in your community? If you want to build a successful practice, your focus should be on creating, preserving, and nurturing deep relationships with your clients. One of the biggest mistakes lawyers make is focusing on attracting new clients, to the exclusion of keeping the […]