Archive for October 2014

What the heck is “portability”?

What the heck is “portability”? Posted by James R. Schrier, on October 6, 2014 When developing an estate plan for a husband and wife, back in the old days (before 2011) it was very common to divide assets between them so that, regardless of which one died first, at least one of them would be able to…

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Homeowners’ Associations – Nonprofit or Not?

Homeowners’ Associations – Nonprofit or Not? Posted by Amanda C. Redick, on October 2, 2014 Homeowners’ associations are typically structured as nonprofit corporations in order to enable them to take advantage of federal and state tax benefits offered to nonprofit entities.  It is important to note, however, that homeowners’ associations are not tax exempt organizations under Internal…

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