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Scura, Wigfield, Heyer, Stevens & Cammarota Blog

Wills and Trusts Can Protect Your Family’s Future

 

Is It Time To Consider Your Estate Planning Needs? Yes.

It is never too early or too late to start planning ways to protect your family finances for the future. Wills and trusts are very important legal tools for you to protect your loved ones from making tough decisions about your final wishes and financial matters after you die.

Estate Planning and probate administration needs can include:

  • Standard wills and pour-over wills
  • Family trusts, revocable living trusts
  • Charitable giving
  • Advance health care directives, living wills
  • Durable powers of attorney, financial and medical
  • Guardianship and conservatorship
  • Business succession planning

 

Bankruptcy and Insolvency Exception to IRS Rule That Debt Forgiveness or Debt Cancellation is Taxable

Bankruptcy specialists want debtors to be aware that the Internal Revenue Service (IRS) is taxing people on debt forgiveness in cases involving foreclosure, short sales, deed in lieu of foreclosures and settlement of credit card or unsecured debt. As a general proposition, if you owe someone money and that person or company cancels or forgives the debt you may have to pay tax on this income. IRS Publication 4681, entitled "Canceled Debts, Foreclosures, Repossessions and Abandonments," explains in detail the situations on when debt forgiveness is taxable and the bankruptcy and insolvency exceptions.

When You Need New Jersey Child Injury Attorneys

Was Your Son or Daughter Injured by Negligence?

Injuries to children can be very serious, particularly when they result in disability or disfigurement, inhibit physical development or cause psychological trauma. They can also be complex cases with special legal issues revolving around liability, insurance, compensatory damages and the child's actions prior to the accident.

The personal injury attorneys of Scura, Wigfield, Heyer & Stevens, LLP, have represented the interests of children of all ages, from infants and toddlers to teens and young adults. We are attuned to the special considerations and committed to protecting the long-term interests of your son or daughter.

Need Help? Contact Us Today!

 

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