January 2023

Life Care Planning

Lester, a widower, age 75, owns a ranch with 350 acres which he purchased fifty years ago. The property has greatly appreciated in value over time. His will leaves the property to his son and daughter in equal shares. However, Lester has considered selling the property now because he may no longer be able to live alone on the ranch and care for it. The problem with selling now is that he will incur substantial capital gains tax on the difference between what he paid for the property and its current value.

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From the Editor

As our subscriber numbers continue to increase with the changes over the last few months we will continue to work on changes to bring you more of what you want with your newspaper. We are finalizing the plans to bring back the graduation tab (insert) and we are looking at suggestions for other changes that have been submitted to us over the last few weeks.

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