It’s 2020! Time to make those personal resolutions for the new year. As you work through your To Do list, Brian M. Douglas & Associates has some advice about estate planning projects you can tackle this year. Create a Secure Filing System If you collect and store all of your important estate planning documents in …
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It’s End-of-the Year Tax Planning Time!
Do You Own Real Estate? Time to Start Getting Your Tax Info Organized As 2019 draws to an end, so does the deadline for tax deductions. If you own real estate or are a real estate investor, your income and potential tax deductions are likely top of mind. Homeowners who itemize their annual tax returns …
Don’t Ignore Your HOA Fees!
If you’ve purchased a home in Metro Atlanta in the past decade or so, chances are, your house is part of a homeowner’s association (referred to as an HOA). Homeowner’s associations are often responsible for maintaining community spaces such as common areas, the neighborhood swimming pool, or the surrounding lighting and landscaping. While many residents …
Understanding the 2019 Gift Tax Exemption
It’s the holiday season, which means that many of us will soon be shopping for gifts for our friends and loved ones. While we’re in the giving state of mind, it’s a good time to discuss the annual gift tax exemption. What you spend or give away now could impact your taxes in the future. …
High Profile Atlanta Trust Case Highlights Issues in Estate Planning
Image by Atlanta Journal Constitution After nine years, three trial judges, and thousands of pages of court documents, a settlement has finally been reached in a hotly contested case involving the estate of an Atlanta businessman. Wayne Rollins was a visionary entrepreneur who founded Atlanta-based Rollins Inc. (a pest control company), which controlled Orkin …
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Discussing Estate Plans Over the Holidays
If you’ve been meaning to talk to your parents about their estate plans but have been having a hard time picking the right time and place, you might want to bring the topic up during the holidays. With Thanksgiving this week and the rest of the holiday season right around the corner, now is a …
Can My In-Law Be My Executor?
When someone is drafting their estate planning documents, he or she is tasked with naming an executor – the person responsible for managing their estate after they pass away. While many people choose their spouse, their children, or even a best friend, others look to their extended family. In Brian M. Douglas & Associates’ latest …
Charitable Contributions Under the Tax Cuts and Jobs Act
The Tax Cuts and Jobs Act, an overhaul of the US tax code, took effect at the beginning of 2018 but continues to impact charitable bequests and contributions. The Act did not altogether eliminate charitable giving exemptions; however, it did alter the rules associated with this tax and estate planning tool. These changes, in turn, …
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