CHILD CUSTODY

Child Custody

CHILD CUSTODY – Custody is divided into two areas, legal and physical. Custody can be shared or exercised jointly or it can be exercised solely. Some people refer to sole custody as “full” custody. The terms are interchangeable but the legal term is “sole.”

Sole legal custody means that one parent shall have the right and the responsibility to make the decisions relating to the health, education, and welfare of a child.

Read More

How to Use Estate and Gift Tax to Maximize Tax Savings

Estate Planning Lawyer

Estate Unified Credit Amount Increases to $5,490,000 in 2017.

Before the close of the current tax year talk to an estate planning attorney. The Estate Tax is a tax on the transfer of property to your heirs upon your death. Each of us gets an estate and gift tax exemption allowing us to transfer property to our heirs potentially tax free. For the year 2017, the estate and gift tax exemption amount is increased to $5.49 million per person (up from $5.45 million in 2016). That means that you and your spouse have the ability to pass on and protect $10.98 million from federal inheritance taxes. Anything above that amount may be subject to a federal estate tax of 40%.

Read More