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Michael Pancheri's Articles in Estate Plan Trusts

  • Will I Lose The Capital Gains Exclusion If I Gift My Home Through An LLC
    Question: Dear Mr. Pancheri, I read your great article "Gifting Real Estate Under the Annual Gift Tax Exclusion." In this article you explain that an LLC can be used to accomplish this. I am considering an LLC- Is there any change in the basis when membership units are transferred (that is, can I take advantage of the Capital Gains exclusion)?-Can property taxes continue to be used as an income tax deduction when property is in an LLC?
  • Powers Of Attorney Vs. Successor Trustees - Does One Have More Power Than The Other
    Question: I am listed as the Successor trustee, my bother is listed as the Durable Power of Attorney for property management of my father's estate. Does one have more power than the other. Does the POA have the power to sell my dad's property or do I the successor? Thanks ahead of time - really confused. N.H.
  • Sometimes a Conservator can be a Good Thing!
    The thought of having a conservator appointed for a parent or relative - even a friend or neighbor - is something we all seem to loath. It has all sorts of negative connotations, including the fact that a conserved individual will be paraded through the probate courts with psychiatric and medical evaluations open for all to see. But, most of all, it's the loss of dignity that results when the state declares an individual incapable - and takes away his or her right to vote, or marry, or divorce, or write a check, or pay a bill, or make any other meaningful decisions. It's a position that no one wants to come to in this life.

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