Should I Add My Child to My Accounts or Deed to My Home?

Should I Add My Child to My Accounts or Deed to My Home?

Gabriel Katzner - February 11, 2025 - Estate Planning

As people get older, they may consider adding their child to their bank account or the title to their property. Giving your child direct access to your bank account can simplify bill paying if your child handles those chores for you. It is also a common misconception that adding your child to your accounts or […]

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Can a Quitclaim Deed Be Contested?

Can a Quitclaim Deed Be Contested?

Gabriel Katzner - January 25, 2025 - Real Estate

A quitclaim deed is a legal document used to transfer ownership of real property from one person to another. They are most commonly used to transfer the title to property between people who know each other well or to fix an error on the title. Unlike a warranty deed, a quitclaim deed does not have […]

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What is a Probate Judge, and What Do They Do?

What is a Probate Judge, and What Do They Do?

Gabriel Katzner - December 20, 2024 - Probate

A probate judge is the person legally responsible for overseeing the probate court, determining the validity of a will (if there is one), and adjudicating the process of administering an estate. A probate court judge’s responsibilities include distributing a deceased person’s assets according to the instructions in their will or following intestate law, resolving disputes […]

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Difference Between Transfer on Death and Payable on Death Designation

Difference Between Transfer on Death and Payable on Death Designation

Gabriel Katzner - November 30, 2024 - Beneficiary

Transfer on death and payable on death are two designations used to transfer assets to beneficiaries when an account holder dies without going through probate. Payable on death means that the assets in the account are transferred to the beneficiary. Transfer on death not only transfers the assets to the beneficiary but also ownership of […]

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How Does a Prenup Agreement Affect Estate Plans?

How Does a Prenup Agreement Affect Estate Plans?

Gabriel Katzner - November 29, 2024 - Estate Planning

A prenuptial or prenup agreement is commonly used by one or both partners in a marriage to provide clarity and define expectations for the marriage. A prenup agreement can distinguish between separate and marital property. Separate property is defined as any assets owned by a spouse before marriage, as well as any gifts and inheritances […]

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Do You Need an Estate Plan? Here’s Why It’s Essential

Do You Need an Estate Plan? Here’s Why It’s Essential

Gabriel Katzner - November 9, 2024 - Estate Planning

Even though 64% of adults view estate planning as important, a 2024 survey conducted by Caring.com reveals that only 32% of Americans currently have a will, marking a 6% decline from the previous year. This is the first decrease in estate planning rates since 2020. Among those without a will, 40% believe they do not […]

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Two Names on Deed, One Person Dies, What Then?

Two Names on Deed, One Person Dies, What Then?

Gabriel Katzner - November 8, 2024 - Real Estate

What happens when two names are on a deed and one dies? The answer to this question depends on how the deed is worded. The property could be owned as joint tenancy with rights of survivorship, tenancy in common, or tenancy by the entirety. If your deed does not specify one of these, the default […]

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Can You Buy a House if You Owe Taxes?

Can You Buy a House if You Owe Taxes?

Gabriel Katzner - - Real Estate

In 2019, over 11 million Americans owed more than $125 billion in back taxes to the IRS. Yes, you can buy a house if you owe taxes, but getting a mortgage can be more difficult if you owe taxes to the Internal Revenue Service (IRS) or state tax authorities. Lenders take on a significant financial […]

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How to Mitigate the New York Estate Tax Cliff

How to Mitigate the New York Estate Tax Cliff

Gabriel Katzner - September 10, 2024 - Estate Planning

As part of the Tax Cuts and Jobs Act (TCJA) of 2017, lifetime estate and gift tax exemptions are set at $13.61 million for individuals and $27.2 million for couples in 2024, adjusted for yearly inflation. This huge exemption increase was a relief to many families, as they were no longer subject to federal estate […]

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Window to the outside and on the frame some plants and a picture with the words Estate Planning symbolizing plan for your future contemplating your home

How Married Couples Reduce Federal Estates Taxes [2024]

Gabriel Katzner - September 6, 2024 - Estate Planning

How Married Couples Can Use the Clayton Election and Disclaimer Options to Reduce Federal Estate Taxes Married couples with larger estates face uncertainty about the federal estate tax exemption when the second spouse dies. Currently, the 2024 federal estate tax exemption amount for an individual is $13.61 million. For married couples, the combined exemption amount […]

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