What If Your Pet Outlives You

Posted by Rebecca Yingst Price | Mar 04, 2024 | 0 Comments

I. Ways to Provide Money to Care for Your Beloved Pet As of 2023, 66 percent of US households own a pet.[1] A Forbes Advisor survey of more than 5,000 dog owners found that 41 percent of dog owners spend between $500 and $1,999 a year on their dogs and 8 percent spend more than $2,000 annually.[...

Why You Might Have an Estate Tax Issue Soon

Posted by Rebecca Yingst Price | Feb 01, 2024 | 0 Comments

The Countdown Begins: Will We Keep the $10 Million Exemption? The year 2026 is quickly approaching, bringing substantial changes that may affect your estate tax situation. The Tax Cuts and Jobs Act (TCJA) in 2017 significantly increased the federal estate tax exemption to $10 million adjusted fo...

Protect Your Most Significant Investments

Posted by Rebecca Yingst Price | Feb 01, 2024 | 0 Comments

If You Own Any of These Assets, You Need to Watch Their Value As we begin 2024, it is crucial to review estate planning goals and strategies that may be affected by changes in the federal estate tax exemption law. At the end of 2025, the Tax Cuts and Jobs Act (TCJA) the estate tax exemption, whi...

Case Study: One Family’s Wealth Protection Plan

Posted by Rebecca Yingst Price | Feb 01, 2024 | 0 Comments

If you have significant wealth, you may be exposed to future estate tax burdens that must be acted on before the Tax Cuts and Jobs Act reduces the estate tax exemption in 2026. Developing and implementing the right estate planning and tax strategies takes time. You may need to prepare regardless ...

Give Thanks This Year & Plan for Future Gratitude

Posted by Rebecca Yingst Price | Nov 21, 2023 | 0 Comments

How Do You Want to Live On After Death?  In the words of physicist and My Big TOE author, Thomas Campbell, ‘To live in the hearts we leave behind is not to die.' When we lose someone dear, memories of special moments, the support they offered, and their unique qualities linger in our hearts. An e...

Top 3 Reasons You Need an Up-to-Date Estate Plan

Posted by Rebecca Yingst Price | Oct 23, 2023 | 0 Comments

Although we live in a world where information is easily accessible through the internet, there are still many misconceptions surrounding estate planning. Most of us do not dedicate our time to learning more about topics like estate planning, because we may not know that we need an estate plan or ...

Important Probate Rules Everyone Should Know

Posted by Rebecca Yingst Price | Oct 05, 2023 | 0 Comments

When a person dies, what happens next depends on whether the deceased person had any foundational estate planning documents such as a Last Will and Testament (otherwise known as a Will) or trust, who the living relatives are, and their relationship to the person who died. If the deceased person d...

The Pros and Cons of Powers of Appointments

Posted by Rebecca Yingst Price | Apr 20, 2023 | 0 Comments

An often misunderstood but common estate planning tool that can appear in estate planning documents is the power of appointment. Not to be confused with a power of attorney (the document that allows you to delegate certain powers to an agent to act on your behalf while you are still living), a po...

Q & A on Probate Basics in Ohio

Posted by Rebecca Yingst Price | Apr 14, 2023 | 0 Comments

What is Probate? Probate is the legal process in which a deceased person's will is validated, their assets are identified, debts are paid off, and the remaining property is distributed to their beneficiaries. What is an Executor? An executor, also known as a personal representative in many states...

Slicing Your Estate Planning Pi(e)

Posted by Rebecca Yingst Price | Mar 14, 2023 | 0 Comments

What? You didn't know that March 14 (3/14) is National Pi Day? We didn't either until recently, but now we know this celebratory day was established (you guessed it!) by a physicist (Larry Shaw) to recognize the mathematical constant (𝛑) whose first three digits are 3.14—probably as an excuse to ...

Ladies, You Need an Estate Plan

Posted by Rebecca Yingst Price | Mar 09, 2023 | 0 Comments

In 1987, Congress passed a law recognizing March as Women's History Month—a time to honor the contributions and achievements of women throughout American history in a variety of fields. Women have played a vital role in building the United States into a strong and prosperous nation. Likewise, wom...

Winter Planning for a Great Spring Part 3 of 3

Posted by Rebecca Yingst Price | Feb 26, 2023 | 0 Comments

Spring Break Checklist After a long, odd Ohio winter, many of us—from the young and to the more mature—are ready to make plans for spring break. Here are a few important reminders, whether you plan to travel to take advantage of warmer weather by traveling or enjoy your spring break at home. Tips...

Winter Planning for a Great Spring, Part 2 of 3

Posted by Rebecca Yingst Price | Feb 19, 2023 | 0 Comments

The Deceased Spouse's Unused Exemption Amount: a Spouse's Final Gift Spouses often work together to build wealth for themselves and their children. Congress recognized this by enacting the gift and estate tax portability election as part of the 2010 Taxpayer Relief, Unemployment Insurance Reautho...

Winter Planning for a Great Spring, Part 1 of 3

Posted by Rebecca Yingst Price | Feb 12, 2023 | 0 Comments

Retirement Planning Update Although we are still in the midst of an erratic Ohio winter, spring is on its way. It is important to remember upcoming April deadlines for retirement contributions and required minimum distributions (RMDs), but there have also been some recent developments that may im...

BUT THEY HAD A WILL!!!

Posted by Rebecca Yingst Price | Feb 07, 2023 | 0 Comments

Addressing A Few Common Probate Misconceptions Some of the most common questions that we hear when someone calls our office after losing a loved one are: My brother had a Will, so why do we have to go through probate to divide his property? My brother had a Will prepared leaving everything t...

Tax Season Is Just around the Corner

Posted by Rebecca Yingst Price | Jan 29, 2023 | 0 Comments

For everything there is a season, and it will soon be the season for taxes. Although it always seems to arrive too quickly, you will start to receive important tax documents by January 31. Whether you are filing as an individual or administering an estate or trust, you should start to prepare for...

How Can Remarriage Affect Your Estate Planning?

Posted by Rebecca Yingst Price | Jan 04, 2023 | 0 Comments

Divorce is more common now than it was in the past, as is remarriage. Depending on how long a prior marriage lasted, the former couple may have engaged in certain levels of estate planning together. When that is the case, it is important to understand how a subsequent marriage can impact the esta...

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Ibis Legacy Law, LLC is committed to answering your questions about Estate Planning, Real Estate, Business Law, Trust Administration, Probate Administration, Premarital Planning, and Legacy Planning law issues in Ohio. We'll gladly discuss your case with you at your convenience. Contact us today to schedule an appointment.

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