• Are Gifts Income?

      Are Gifts Income? Albert Mumma married Jean in 1952 and they had three children together. Albert supported the family as an architect. He had an office in Georgetown. In 1968 the parties had a violent altercation and they decided to divorce. The judge awarded $200 a month in alimony and $500 a month in child support to Jean, plus attorney fees and costs.

      James J. Gross/ Maryland Divorce Legal Crier- 5 readers -
  • IRS Year-End Gifts to Charity Tips

    … As 2014 draws to a close, many of our clients are thinking about making annual gifts to charities. The IRS has just posted a handy article with six tips to keep in mind to make sure that you can claim an income tax deduction for the gift. Here’s a summary: 1. Qualified charities. Make sure that you are making a donation to a qualified charity…

    Liza Hanks/ Palo Alto Estate Planning Blog- 3 readers -
  • Non-Sequiturs: 11.18.14

    … * We are coming to Chicago, and we’d love to see you at our event on Thursday night — RSVP here. [Above the Law] * Wait, FIFA may be dishonest? Kirkland partner Michael Garcia announces plans to appeal after FIFA releases ethics report on the Russia and Qatar World Cup bidding process that contains “numerous materially incomplete and erroneous…

    Joe Patrice/ Above the Lawin California- 4 readers -
  • It’s Holiday Time (Almost) How About a Roth IRA?

    … I recently read an article about the value of giving your children (or grandchildren) the gift of compound interest and a more secure retirement, in the form of an annual contribution to their Roth IRA. What a great idea! The author’s point is that many young people are struggling to pay off their educational debt and mortgages, or cope…

    Liza Hanks/ Palo Alto Estate Planning Blog- 2 readers -
  • Gifts are great ---- until you get a divorce

    …Married couples fortunate enough to receive gifts or inheritances (usually from family members) during their marriage often reap the benefits jointly: a down payment for a house, an unexpected nest egg, an increased standard of living . . . However, if the marriage breaks down, people often want to recoup those gifts. In a common example, parents…

    Linda A. Kerns/ LINDA'S LAW BLOG @ LINDAKERNSLAW- 1 readers -
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