How long does it take to get a hearing before a judge in probate court?
ADDITIONAL INFORMATION: I am in a dispute over a house between myself and my mother. We both own the house we need to settle in court. How can we get a hearing and how long does it take to get one? ATTORNEY ANSWER: First, I do not know that Probate Court is the appropriate venue […]
Under Massachusetts law, are there any circumstances that allow children to contest against the father when there was no will?
ADDITIONAL INFORMATION: My mother recently passed and we don’t know for sure if she had a will. We know that she always said that she had but now our dad is saying that she didn’t. He is taking control over all of her possessions saying that he can do what he wants. I’ve been living […]
What is a reasonable fee to draw up a Codicil to an already existing will?
ADDITIONAL INFORMATION: I just needed my will updated so that my daughter instead of brother in law is the executor of the will. What is a reasonable fee? ATTORNEY ANSWER: Each attorney sets his own fee schedule and some attorneys do not charge for an initial meeting. Also, attorney fees vary according to the attorney’s […]
With today’s lower mortgage interest rates, is it time to refinance?
Mortgage interest rates are at historic lows. According to the Mortgage Bankers Association, the average interest rate for 30-year, fixed-rate mortgages dropped to 4.25% in September, 2010, and the average rate for 15-year mortgages fell to 3.73%. These are the lowest rates in almost 50 years. If you’re currently paying mortgage interest at a higher […]
2011 mileage rates released
The IRS has released adjustments to the mileage rates that can be used for business driving, driving for medical or moving purposes, or charitable driving. Effective January 1, 2011, the standard mileage rates for the use of a car, van, pickup, or panel truck will be 51¢ per mile for business miles, 19¢ for medical […]
New law delays return filing
If you itemize deductions or claim any of three restored deductions (for state and local sales tax, higher education tuition, or educator expenses), you must wait until mid to late February to file your 2010 tax return. The IRS must reprogram its computers to handle the changes made to these items by the 2010 Tax […]
New law extends Bush-era tax rates for two years
After weeks of wrangling over the details, both the Senate and the House passed a bill that will extend the tax rates in effect in 2010 for another two years, through December 31, 2012. President Obama signed the 2010 Tax Relief Act into law on December 17, 2010. Here’s an overview of the key provisions […]
Mark these tax deadlines on your 2011 calendar
It’s time to file various tax returns once again. Among the tax deadlines you may be required to meet in the next few months are the following: January 18 – Due date for the fourth quarterly installment of 2010 estimated taxes for individuals unless you file your tax return and pay any taxes due by […]
Be careful with joint property and ‘payable on death’ accounts
If you intend to leave your children equal shares of your estate, don’t forget to consider any money or property held jointly with a child. If you have recently added a child to a bank account, own property jointly with one of your children, or have set up a payable-on-death account with a child as […]
There may be better alternatives to charitable gifts in your will
Many people include charitable gifts in their will. Not only do they want to help certain charities, but doing so can reduce estate taxes. But suppose that at some point, it becomes clear that your estate will likely incur little or no estate tax. You might consider removing all or part of such a bequest […]