Welcome to our bLAWg
What is a “Gambling Session”?
Section 165(d) of the Internal Revenue Code provides that losses from wagering transactions are allowed only to the extent of the gains from such transactions. Focusing on the term “transaction”, the Courts and the IRS refuse to let gamblers report their gambling activity in total. On the other hand, the [...]
Execute a Power of Attorney Before It’s Too Late
A durable power of attorney is an extremely important estate planning tool, but many people delay completing this vital estate planning step until it’s too late and they no longer are legally capable of doing it.
Revoking a Power of Attorney
If for any reason, you become unhappy with the person you have appointed to make decisions for you under a durable power of attorney, you may revoke the power of attorney at any time.
What Is Required of an Executor?
Being the executor of an estate is not a task to take lightly. An executor is the person responsible for managing the administration of a deceased individual's estate.
Kinds of Trusts
Trusts fall into two basic categories: testamentary and inter vivos.
Do You Have the Right Fiduciary?
When creating an estate plan, an important decision is who to name as your fiduciary...
Powers of Attorney Come in Different Flavors
A power of attorney is a very important estate planning tool, but in fact there are several different kinds . . .
Entering and Leaving Medicare Advantage Plans
You generally must be enrolled in Medicare Part A and Part B before you can enroll in a Medicare Advantage plan. If you want to join a Medicare Advantage plan, you should contact the plan and ask if it is accepting new member enrollments or if it has a waiting list.
Your Will
Your will is a legally-binding statement directing who will receive your property at your death. Why should you have a will? Here are some reasons.
Capacity Requirements for Executing Estate Planning Documents
Proper execution of a legal instrument requires that the person signing have sufficient mental "capacity" to understand the implications of the document.