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Air and Space Museum, Washington, D.C. 2013 -- M. Gustafson Gervasi Lawyers are known for giving the dreaded answer of "it depends" when asked a question.  But it is true, unsatisfying, but true.  Case in point -- the a ability to leave frequent flier miles and other loyalty perks to family and friends upon your death depends on the service agreement you have with the company.  Sure, your will may say "I leave my Delta Frequent Flier miles to my spouse" , but the will does not control distribution.  It's the service agreement with the company, and according to recent news, Delta is one of 5 major airlines that prohibits passing frequent flier miles at death .  Other airlines, as well as companies with loyalty perks, may allow limited transfers to a spouse or domestic partner.  In the end, it really depends on the agreement with the company. In the end, read your agreement.  If you do not like the terms, seek out another company.  But watch...

Earlier this week I took a call from a financial planner I know.  She was calling for advice to give an elderly client.  In her eighties, the client's health was beginning to decline and the question came up, who would be right to take over the finances when the time comes?   The planner wondered what general advice I might have.  The women had no family nearby.  From my vantage point as an estate planning and probate attorney, I offered the following thoughts: Trust and competency are more important than proximity.  Go with someone who does not have his or her own financial problems, lessen the chance they will either steal or simply drop the ball and create a mess. Finances can be managed from a distance thanks to fax machines, the internet, and smart phones. A remote power of attorney can hire a local daily money manager if local or on-site financial duties are required. Consider skipping over family and friends and naming a professional, such a...

As fall settles over the country and children return to the classroom, we have a clear understanding how one federal agency will treat same-sex couples in a post-DOMA world.  Last week, within an hour or two of dropping my Summer/Fall newsletter off at the printers, I received an alert from my associate back in the office.  The IRS released a statement clarifying its position on how it will treat married same-sex couples for estate and income tax purposes.  The newsletter had indicated that each agency would make a decision, and up until then, the IRS treatment depended on a couple's state of residence.  And then it changed.  My plans to start the Labor Day weekend were delayed, a few sentences were re-written, and back to the printers it went. According to the Internal Revenue Service, same-sex married couples will receive: all federal tax benefits no matter where they live.  This is significant for same-sex couples in my home state of Wisconsin...