Apr 4, 2018 Office News

Sometimes you have to tell a prospective client that they can't get what they'd like. You have to be inventive. You can't just deed over property to minors, or use what everyone thinks is the magic solution - a trust. People want to put property in trust, but forget that this means you don't own it - the trust does. Gone is the ability to deduct property taxes paid. The trust now has to have the homeowner's policy, and file a return if the property generates any income. Make sure that the office handling your probate wishes does what is necessary to accomplish your objectives; not just draft what you ask for or have heard a bunch of people discuss. The most tragic results come from people who think they are informed (by listening to every Tom, Dick & Harry) but who are setting themselves up for chaos to reign after they pass.