Required

Deducting Funeral Expenses – Woodstock, Georgia Elder Law Attorney

While an estate has to pay taxes on the total assets of the estate, some expenses that an estate makes are tax deductible. One of those expenses is funeral expenses. If Joan Rivers has the funeral that she said she wanted, then her estate will have a lot to deduct.

The recently deceased Joan Rivers was almost a larger than life figure. She was an iconic comedian who loved the Hollywood lifestyle and she made no attempt to hide her wealth. She even spoke about the type of funeral that she wanted, which was to be large with paparazzi and Meryl Streep crying in five different accents.

In Saying Goodbye to Joan Rivers: The Bigger The Funeral, The Bigger The Tax Deduction,” Forbesnotes that an elaborate funeral could be paid for by Rivers’ estate and the amount could be deducted from the estate tax. Rivers, who famously hated paying taxes, would be very happy to have known about this. The IRS actually has very few rules about tax deductions for funeral expenses. The deductions are allowed as long as they comply with state and local laws and they are reasonable in light of the deceased’s lifestyle. An ordinary person could not have a funeral like Rivers wanted and have the estate deduct it all. However, for someone like Rivers, the full deduction appears to be appropriate.

If you are administering an estate that might have to pay the estate tax, then you should speak to an estate planning attorney about deducting funeral expenses and what other types of expenses can be deducted. It can save the estate a lot of money, leaving more money for the heirs.

Reference: Forbes (September 7, 2014) Saying Goodbye to Joan Rivers: The Bigger The Funeral, The Bigger The Tax Deduction

Hear From Our Clients
tes-prev
tes-next

I heard Cindy’s presentation at a Senior Luncheon at my church, and was very impressed. She helped my daughter and me understand many aspects of elder law. Josh has also been very helpful in my planning to enter an independent living situation . I have told many friends about them.

- Charlotte

The very best elder law attorney and staff anyone could ever ask for! I have referred a number of clients to Cindy and she never disappoints. She is kind, caring, and extremely thorough in making sure everything is completed as it should be. I highly recommend Cindy for anyone needing lawyer services; she truly goes above and beyond for every client she helps and has had a huge impact in so many peoples’ lives. Thank you, Cindy and staff, for everything that you do- I’m so glad to know you!

- Kerri

Cindy and the Nelson Elder Care Law team are trustworthy and helpful. They are the experts in elder care law. At Leaf Cremation, we entrust our families to the care of the Nelson team when their services are needed.

- Pierce

Josh Nelson, and his staff, have been amazingly helpful to our family. The ins and outs of nursing homes, the rules and regulations that govern Medicare and Medicaid are daunting and the folks at Nelson Elder Care Law have been informative, responsive, and above all, empathetic. I cannot emphasize enough how their service has taken a weight off of our shoulders especially during a world pandemic that has targeted nursing homes across our country. I highly recommend retaining Josh and his firm!

- Marcia

I had a simple legal question to them that I needed answered and they very helpful in giving me the information I needed. I highly recommend them and will reach out to them if I need more advice or assistance. Thank you for taking your time to just answer a couple of questions I had!

- Ben