However, it’s important to note that the remaining value of the annuity may be subject to taxation and potential probate. Depending on how the annuity is structured and the timing of the annuitant’s passing, there may be tax implications for the beneficiaries upon receipt of the funds. Cons...
In January 2005, my father filed a complaint with the Nassau County, New York, District Attorney against my sister, Terri, who he’d recently discovered had been embezzling millions of dollars from both my parents, as well as from me. The DA began an investigation. Around the same time, ...
you have to pay a certain portion of these costs from your pocket. The deductible is one of these out-of-pocket payments. Before your insurance kicks in, you must first be able to hit your deductible. And your deductible restarts every year. ...
fees related to tax advice and planning also may be deductible subject to the 2% floor. In addition, attorney’s fees attributable to drafting a revocable living trust may be deductible as an expense you incur for the management, conservation or maintenance of property. If you fund a living ...