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11 December
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Skin in the Game – Should Doctors Comply with a “Do Not Resuscitate” Tattoo?

Posted by Bobby Feisee
in Bobby's Blog

Many patients find it difficult to communicate their end-of-life wishes to family members and doctors at critical points of time, especially if you are confronted with a sudden or unexpected ailment. There are legal documents designed to help address this important issue. For example, your estate planning attorney can draft an advance directive that tells your doctor and loved ones what kind of medical care you desire if you are incapacitated or deemed unable to make such decisions. You can also draft a do-not-resuscitate (DNR) order to be included with your advance directive. A DNR is a request not to have CPR administered if your heart stops or if you stop breathing. Your doctor should place the DNR order in your medical chart and doctors and hospitals in most states accept DNR orders. But what if you tattoo “Do Not Resuscitate” on your body? Are doctors obligated to treat this marking...

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12 November
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Estate Tax May Survive Federal Tax Reform

Posted by Bobby Feisee
in Bobby's Blog

Congress is in the midst of debating tax reform which features an attempt to possibly repeal the federal estate tax (also referred to as the "death tax"). This tax typically effects high value estates that can result in a whopping 40 percent estate tax. In fact, the 40 percent estate tax affects approximately 0.2 percent of estates in America. That translates to 5,460 estates in 2017, according to the nonpartisan Tax Policy Institute. Though, there are sizable exemptions to the estate tax under current law. For example, in 2017, the estate tax exemption is $5.49 million per individual. This means an individual can leave $5.49 million to their heirs and pay no federal estate or gift tax, according to Forbes. There has been long-held criticism behind the premise of the federal estate tax, especially in conservative circles. They point out that the estate tax is essentially a double-tax on hard-earned income and harms...

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12 November
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Tips to Protect Yourself from The Equifax Credit Breach

Posted by Bobby Feisee
in Bobby's Blog

Equifax, one of the “Big 3” credit reporting agencies (including Experian and TransUnion respectively) announced a massive data breach impacting an estimated 143 million consumers. Experts have declared this to be the worst consumer data breach in U.S. history. The breach means that nefarious characters now have access to Social Security numbers, dates of birth and address information of 143 million Americans. Massachusetts Attorney General Maura Healey described the breach of Equifax to be "the most brazen failure to protect consumer data we have ever seen," according to NPR.org. Several state AGs and the Federal Trade Commission have opened investigations into Equifax’s practices and policies. Members of Congress have demanded criminal investigations and a full accounting of what exactly happened to allow the personal information of 100+ million people to become accessible to criminals. https://www.youtube.com/watch?v=BShjDamkNxI Take Action Now is the time to take action and protect yourself and the health of your credit. One...

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30 October
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Estate Planning Is About Protecting Your Loved Ones

Posted by Bobby Feisee
in News at the Firm

An estate plan is not simply some dry recitation of assets, accounts, and heirlooms. An estate plan is an act of love. It is a document symbolizing your care and concern for your family. As new parents, Bobby and Newsha have developed a deeper understanding of this important principle. Take a moment to read Bobby's "Message in a Bottle" to his daughter, Nava (who is featured in this wonderful photo). My “Message in a Bottle” to My Daugher Nava Feisee Baby on Board - I Care, Therefore I Plan, Pt. 2 Baby on Board - I Care, Therefor I Plan, Pt. 1 ...

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16 August
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Multiple States Reducing Estate Tax Threat for Families and Businesses

Posted by Bobby Feisee
in Bobby's Blog

Since 2014, approximately nine states have eliminated or lowered their estate taxes. This was accomplished primarily by modifying and increasing specific exemptions thereby reducing the number of households that could be hit with a large estate tax bill. For example, Maryland is planning to raise its current $3 million estate tax exemption to $4 million in 2018. The District of Columbia is ahead of the game. In 2014, D.C. passed a major tax reform deal that included increasing its estate tax exemption amount from $1 million to $2 million at the start of 2017 and to ultimately match the generous federal exemption level ($5.49 million for 2017, indexed for inflation), starting in 2018, according to Forbes. Other states are going even further. For example, New Jersey plans to eliminate its estate tax entirely, according to the Wall Street Journal. Currently, six states have repealed their estate taxes over the past 10 years, including Virginia. Why...

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11 August
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Benefits of a Series LLC

Posted by Bobby Feisee
in Bobby's Blog

The Uniform Law Commission (ULC) recently approved the Uniform Limited Liability Company Protected Series Act (ULLCPSA) to help provide consistency in the language used to structure Series LLCs. This was necessary since the series LLC is a fairly new concept for structuring ownership in a business, but it appears to be gaining popularity across the country. Eight states have already enacted their own Series LLC laws. What Exactly is a Series LLC? The Series LLC is a limited liability company comprised of a master LLC and other subservient LLCs that are separate from each other to reduce liability exposure. Some people have compared the Series LLC to a corporation that owns and manages multiple subsidiaries. Each LLC has its own set of assets that are distinct from the other LLCs, while the master LLC controls all LLCs in the series. Each LLC has its own owners and is only liable for its...

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06 July
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Bobby Featured in Profiles in Success Series

Posted by Bobby Feisee
in News at the Firm

We are proud to announce the fact that Bobby was featured in Volume XIII of Profiles in Success, a collection of profiles highlighting words of wisdom and advice from a diverse group of business leaders in the Washington D.C. area. Bobby was interviewed by Gordon Bernhardt and talked about his success in the practice of law, the influence of his father in his chosen career, and the importance of visualizing victories to achieve your life's goals. Take a moment to read Bobby's interview here.     Below is a video of Gordon Bernhardt discussing the Profiles in Success Series. https://www.youtube.com/watch?v=qczv4vPq9_s...

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06 July
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Real Estate Developers May Be Able to Avoid Gift Taxes When Passing On Developer Units

Posted by Bobby Feisee
in Bobby's Blog

In February 2016, two Central Park condos owned by then-candidate Donald Trump had an estimated market value of $790,000 and $800,000. In April 2016, Trump sold these condos to his son, Eric Trump, for pennies on the dollar ($350,000 each, to be exact). For most people, this family-friendly sweetheart deal would typically incur hundreds of thousands of dollars in gift taxes. Not so for Donald Trump. Why? Because he was a real estate developer. A real estate owner who sells a piece of property for less than it’s estimated worth typically has to pay gift tax on the difference between the sale price and the true market value, according to MSN.com. Any personal gifts worth more than $14,000 in a given year are subject to a federal tax that could be as high as 40 percent. However, in Trump’s case, since he the building’s developer selling the condos for the first time, he...

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