IRS Cracks Down on Family Gifts of Real Estate
Amazingly, it appears that most people who have given away real estate to family members in recent years have not filed a gift tax return with the IRS. The IRS requires a gift tax return to be filed any time …
New Expunction Bill Signed Into Law
The legislature has passed a significant bill that will affect those with old convictions that have haunted them for years. North Carolina House Bill 1023 was signed into law by Governor Bev Perdue in July 2012, and will go into …
Many wills need to be reviewed.
In the past, many people tried to achieve a similar result – using both spouses’ exemptions – through the use of a trust, sometimes called a “bypass trust.” Typically, when the first spouse died, some of his or her assets …