BDBF News and Legal Updates

Major changes to the federal estate tax exemption are likely looming, perhaps as soon as January 1, 2022. The “estate tax exemption” refers to the amount of wealth you can pass upon your death tax-free.  Assets above the exemption amount are subject to estate tax.  The federal estate tax is one of the highest tax...

We have previously written about health care powers of attorney and financial powers of attorney. For a health care power of attorney (an advance directive), a health care surrogate’s authority does not vest until medical providers are satisfied that the principal (the person nominating the surrogate) can no longer meaningfully communicate or make decisions. Unlike a...

Nearly all Americans participate in retirement savings and/or have a policy of life insurance. In addition, many Bulman Dunie clients hold brokerage accounts. Retirement savings plans, insurance policies, and brokerage accounts have one common element. When you open the account or take out the policy, you are asked to complete a beneficiary designation form. Do...

You’ve finally stopped kicking the proverbial can down the road.  You’re ready to cross that item off your “to-do” list that you and your spouse have talked about ever since your kids were born.  You’re about to consult with an estate planning attorney. At Bulman Dunie, we commonly tell our estate planning clients that the...

In his late April address to a joint session of Congress, and in various speeches thereafter, President Biden laid out many of his proposals for tax changes. Of chief concern to our estate planning clients are potential changes to the federal estate tax, as well as other tax changes which could bear upon planning. Many...

Estate planning discussions with clients always include planning for incapacity. The pandemic has driven home that debilitating sickness can come quickly and recovery may take several weeks, if not months. Powers of attorney are an essential part of every estate plan to ensure that your health care and financial affairs remain well-managed if you become...