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Opinion

ASK HARRY: Can We Switch Lawyers?

  • Harry Margolis, Esq. has been representing seniors, individuals with special needs and their families since 1987. Harry Margolis, Esq. has been representing seniors, individuals with special needs and their families since 1987.

Question: My wife and I have a family joint revocable trust, in which my daughter and her husband are the trustees. However, they do not want to do this job. My wife and I paid a lot of money, $36,000 for unlimited help, to our current elder lawyers, to get this trust and all our legal papers drawn up here in Florida. The lawyers who did our trust said that they could be the trustees, but it would cost $30,000 to $35,000 in addition.

Opinion

ASK HARRY: Can I Pass My $250,000 Capital Gains Exclusion On To My Heirs?

  • Harry Margolis, Esq. has been representing seniors, individuals with special needs and their families since 1987. Harry Margolis, Esq. has been representing seniors, individuals with special needs and their families since 1987. Harry Margolis, Esq. has been representing seniors, individuals with special needs and their families since 1987. Harry Margolis, Esq. has been representing seniors, individuals with special needs and their families since 1987. Harry Margolis, Esq. has been representing seniors, individuals with special needs and their families since 1987. Harry Margolis, Esq. has been representing seniors, individuals with special needs and their families since 1987.

Question: I'm 94 years of age and own a home in Massachusetts. When I pass, will my heirs be able to take the $250,000 federal capital gains deduction that I would have been entitled to if I sold the house? Does this differ from state to state?

Opinion

ASK HARRY: How Will Irrevocable Trust Be Taxed Upon My Death?

  • Harry Margolis, Esq. has been representing seniors, individuals with special needs and their families since 1987. Harry Margolis, Esq. has been representing seniors, individuals with special needs and their families since 1987.

Question: If I place my home in an irrevocable trust with my children as beneficiaries what is the tax upon my death?