Use the Exclusion or Lose It

November 2, 2020Estate Planning, Legal Education

Currently, each person can give $11.58 million during life or at death. However, that amount will be cut in half by January 1, 2026. It may go down even sooner. Read on to learn why and how you should use it before you lose it.

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Allison Manning

Latest posts by Allison Manning (see all)

Updating Your Plan: Beneficiary Designations - February 1, 2021
Updating Your Plan: Powers of Attorney - January 18, 2021
How Will You Pay for Long-Term Care? - December 28, 2020

In this day and age it is very rewarding and comforting to make a major decision for the long-term security of your family. Over 14 years ago we decided upon the Kinghorn Heritage Family to create our family trust. Through the years it became very evident that this decision was a major and necessary step for a secure future in an ever-changing legal climate. The Kinghorn Family has been a close friend that has always been there to serve our family.

Gary and Velma T. Client Review September 8, 2020

We appreciate the programs presented that keep us informed and updated in today’s internet and financial world. It is a comfort to know that you are only a phone call away if questions arise.

Robert and JoAnn H. Client Review September 8, 2020

We enjoyed meeting all the behind-the-scenes people on your team and want to thank you for the peace of mind you’ve given us and our children.

M.D. Client Reveiw September 8, 2020

What an amazing law firm, where the people I refer to them are handled as good friends, family, and confidantes.

Eileen E. Client Review September 8, 2020

Thank you Allison and Kinghorn Law family for everything you have done to make our end-of-life decisions a reality and stress free. When we think of Kinghorn: trust, peace of mind, professional. Outstanding Law Firm!

Ken and Cheryl V. Client Review September 8, 2020

Very satisfied with your company and staff.

Robert and Britt O. Client Review September 8, 2020

Recently, police raided a Florida retirement community, putting an end to a weekly mahjong played by four women, ages 87 to 95. According to a story in the Heritage Florida Jewish News, Zelda King, one of the accused offenders, claimed that a “troublemaker” who “lives in building 11” called on the police to put a stop to the game. After the police raided and closed down the clubhouse where the “illegal” game was being played, they returned several times during the week to make sure the scofflaws hadn’t returned to their criminal ways. As it turns out, the game wasn’t illegal under Florida law. In fact, King, who is the youngest of the group at a mere 87 years old, says her neurologist recommended she play these kinds of games. According to her neurologist, mahjong is one of the best games for the elderly to play because it can delay or possibly prevent dementia. So, is the neurologist right? According to the Alzheimer’s Association, the leading national organization for Alzheimer’s Disease, research shows that keeping your brain active clearly has a positive effect. An active brain may even be able to generate new brain cells and build a reserve of brain cells and connections. One study, conducted by researchers at King’s College in London and funded by the Alzheimer’s Association, found that playing online games that challenge reasoning and memory skills can also help improve everyday skills such as shopping, cooking and managing personal finances. Playing mahjong or online games isn’t the only way to keep an active brain. The Alzheimer’s Association suggests you could also work on crossword puzzles, attend lectures or plays, enroll in continuing education courses through the University of Arizona or Pima Community College, or garden. Whatever activity you choose, keeping your brain active is vital to living well in your retirement years. So keep those mahjong tiles moving. And to the troublemakers in building 11, put the phone down and come enjoy a game with us.

Chandler V. Client Review September 8, 2020

Estate Planning attorneys are sometimes criticized for offering needlessly complex, 'canned' solutions. This never has been the case with Kevin. The documents he created were comprehensive when appropriate and surprisingly simple when suitable. In every case, they were individually crafted to meet our unique needs.

Rich D. Client Review September 8, 2020

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