Counselor’s Corner
Practical Legal Discussion of Taxes, Estate Planning and Business Issues
March 2010 Newsletter — True or False? Life Insurance is never subject to tax?
George Bailey….you’re worth more dead than alive! Remember poor George Bailey and his life insurance? Ok that is not one of the high points of It’s a Wonderful Life….but that quote always reminds me of a common misunderstanding my clients have about counting their...
November 2009 Newsletter — A transfer of real estate out of a corporation is taxable as a deemed sale.
Do you have real estate owned in your corporation? Watch out for a tax surprise! Many of you have heard from your advisors (including yours truly) that if you own real estate either for your business or for investment then you need to protect yourself from liability...
October 2009 Newsletter — A POA eliminates any required involvement of the beneficiaries and allows for a more efficient sale of property.
Land and inherited by a group of misfits? POA to the rescue! Probably one of the worst things that can happen in a decedent’s estate is for a group of beneficiaries who don’t get along to inherit real estate. Under North Carolina law, beneficiaries under a Will are...
September 2009 Newsletter — Beneficiaries can work together to fulfill a decedent’s wish.
How to carry out the decedent’s wish — 101. I bet many of you have heard some variation of the following . Aunt Lucy had no kids of her own but she had a bunch of nieces and nephews – seven of them in fact. She loved them all but she was particularly close to her...
May 2009 Newsletter — Designating minors as beneficiaries is an all too common mistake.
What’s the worst mistake you can make with beneficiary designations? Naming your estate? Naming nobody? Actually, the worst mistake you can make is naming minors as beneficiaries. Believe me, people do this; I know from several bad experiences (fortunately not my...
Call Me
Email Me
Mailing Address
PO Box 850
Hillsborough, NC 27278