Category Archives: news

The COVID-19 Pandemic has been difficult for us all.  However, it also provided us at Morello Law Group an opportunity to focus on improving the ways in which we serve our clients so that we may continue to meet your legal needs. Read the full article

As an estate planning attorney, I often work with clients that have children from previous marriages. These blended families bring special and very important issues to the table and oftentimes present challenges to develop a proper plan.

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On Dec 22, 2017, President Donald Trump signed Tax Legislation into law which was the first major overhaul of the U.S. tax system in 30 years (“The Trump Tax Act”). The Trump Tax Act significantly impacts the Estate, Gift and Generation Skipping Transfer (“GST”) Tax and the Annual Gift Tax Exclusion for all persons starting in 2018.

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Having a comprehensive estate plan in place is vital in maximizing your assets, ensuring the private and efficient transfer of property to your beneficiaries, and giving you the peace of mind that your wishes will be carried out and your family provided for after your passing…
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If you are an individual with a special needs child, or other disabled loved one, proper estate and special needs planning with an experienced attorney is vital to ensure that you are able to maximize the services and resources available to your loved one.

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Hiring the wrong construction contractor can become a disaster on several levels. However, even hiring the right contractor under the wrong terms can likewise become a major problem. Over the last 27 years of representing both contractors and homeowners in disputes, I have found that following basic rules when engaging a construction professional can eliminate most if not all problems.

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As an estate planning attorney, I often work with clients that have children from previous marriages. These
blended families bring special and very important issues to the table and oftentimes present challenges to
develop a proper plan.

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Pursuant to IRS Revenue Procedure 2016-55, the 2017 Estate, Gift and GST Tax
exemptions are as follows:

A. Estate Tax

• The maximum Estate tax rate will be 40%. I.R.C. §2001.
• The Estate tax exclusion amount for year 2017 is increased to $5.49 million (adjusted annually for inflation).  I.R.C. §2010.

B. Gift Tax

• The maximum Gift tax rate will be 40%. I.R.C. §2502(a).
• The annual Gift tax exclusion amount for 2017 remains at $14,000 (adjusted annually for inflation).  I.R.C. §2503(b)(2).
• The annual Gift tax exclusion amount to a non-U.S. citizen spouse for 2017 is increased to $149,000 (adjusted annually for inflation).  I.R.C. §2503 and §2523(i)(2).
• The lifetime Gift tax exclusion amount for year 2017 is increased to $5.49 Million (adjusted annually for inflation).

C. Generation-Skipping Transfers (GST) Tax

• The maximum GST tax rate will be 40%.
• The GST tax exclusion amount for year 2017 is increased to $5.49 Million (adjusted annually for inflation).

We just completed a long, tumultuous presidential election, and the only thing that remains certain still is death and taxes. To a great extent, we do not know if and how a Trump presidency will affect the federal tax system. President-elect Trump campaigned on the promise of lowering the top corporate tax rate from 35%, to 15%. He also promoted the idea of allowing owners of small businesses the option to elect a flat tax of 15% on pass-through income. Read more…

As an experienced estate planning and elder law attorney, I regularly assist clients who are preparing to incur the significant costs associated with receiving adequate medical care for our senior citizens. Read More…