Prominent Virginia | Law Firm Newswire

Fairfax, VA (Law Firm Newswire) January 22, 2016 – Those who have blended families can face difficult estate planning issues. They may wish to leave a portion of their estate to their current spouse and their children, their children from prior marriages, and in some instances, their children from their spouses’ prior marriages. It can be a daunting task to provide for all members of one’s family. It is best not to depend on a spouse and children to work things out because there could be family arguments and possible litigation following one’s death. There are some estate planning vehicles […]


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Fairfax, VA (Law Firm Newswire) January 15, 2016 – The last thing that couples wish to think about is the possibility of the death of a spouse. However, failing to prepare for that eventuality can only make matters worse if it occurs. According to a NerdWallet survey of over 2,000 married adults, one in three couples is without life insurance. Among those who have life insurance, 43 percent state that they would not be financially ready if their spouse died. In order to offer some semblance of security for one’s family, there are some steps that couples can take to […]


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Fairfax, VA (Law Firm Newswire) November 23, 2015 – Art collectors are advised to think about the future of their art after they are deceased. According to Michael Delgass, managing director of Sontag Advisory, a financial planning firm in New York, as one’s art portfolio increases in value, it becomes a more important part of one’s tax and financial lives. Heirs may realize undesirable tax consequences, including heirs who are not relatives of the collector or those who are relatives of the collector but who are not art connoisseurs. Advisers state that it is challenging to quantify the value of […]


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Fairfax, VA (Law Firm Newswire) October 12, 2015 – In a continuing feud over who is responsible for paying the taxes on Tom Clancy’s $86 million estate, the judge ruled that the famous author’s widow could avoid making such payments. The majority of Clancy’s estate is from a 12 percent ownership stake in the Baltimore Orioles and consists of a unique World War II tank. When the tax bill was initially due, Alexandra Clancy filed a lawsuit alleging that Mr. Clancy changed his will just prior to his demise in order to make certain that her inheritance was within the […]


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