Category Archives: Estate Taxes
Three Kinds of Laws That May Influence Your Estate Plan
Most people are under the impression that they will not trigger the federal estate tax implications for their assets after they pass away. This is because these federal taxes are for extremely large estates. Bear in mind that those rules can change and that you may not be incorporating the full value of all… Read More »
Tips for Naming Your Living Trust
You know that you want to set up a living trust and have already established a relationship with an experienced estate planning attorney to help you get there. Your living trust enables you to transfer property to the charities and people of your choice without having them go through the probate court supervised process…. Read More »
How to Take Care of Federal Gift and Estate Tax Exemptions In 2019
The Tax Cuts and Jobs Act still has significant impact on the process of estate planning. This means that many estate planning attorneys have had to adapt and re-strategize the best way for clients to take advantage of these federal gift tax and estate exemptions. One-third of respondents in the recent TD Wealth study… Read More »
How to Make Sure Your Power of Attorney Actually Works
A durable power of attorney is an important document for protecting yourself. However, from an institution’s point of view it is important to consider what they would look at in determining whether or not a durable power of attorney is actually valid. A power of attorney could be a rescinded one as a result… Read More »
There are ways to avoid possibility of IRS audit
The English language has its share of beautiful words, ones that are a pleasure to hear and practically poetry all by themselves. “Audit” is not one of them, according to the investment advice website Motley Fool. It is, in fact, one of the more frightening words around, a recent posting noted. “Audit is one… Read More »
In Some States, Irrevocable Trusts Aren’t Necessarily Irrevocable
Estate tax returnIrrevocable sounds so very final, but in some states, appearances can be deceiving. According to a National Law Review article, people who created lifetime irrevocable trusts to avoid estate taxes don’t have to live with them irrevocably, in some instances. “The assets in the irrevocable trust pass upon death free of estate… Read More »
Tax Law Revisions Allow Couples To Say ‘I Love You’ In Estates
Time was, one from Column A and one from Column B and a couple’s estate planning was pretty much a done deal. Times change. According to a recent article on the investment website Morningstar.com, changes in tax laws may have rendered an estate planning approach made famous by actor Humphrey Bogart obsolete. “For decades,… Read More »
Choice Of Executor Vital Part Of Estate Planning
Making a will and keeping it up to date are only part of what people need to do to ensure their wishes are properly carried out after death. Wife showing where to sign to her husband Selecting the right executor for an estate is also vital. That message was brought home in a recent… Read More »
Irrevocable Trust Could Have Saved Fuss Over Novelist’s Estate
The late Tom Clancy’s novels showed he had a remarkable grasp of military strategy. His muddled estate shows he did not bring the same kind of acumen to his own personal financial affairs, according to a recent article on the website insurancenewsnet.com. Clancy passed away in Baltimore on Oct. 1, 2013. He was 66…. Read More »
Estate Planning Also Has Its Trends
Estate planning, like pretty much everything else in life, is subject to trends, as pointed out recently by the website wealthmanagement.com. The article serves as another means of advising that estate plans are far from static, but must keep up with changing times and changing laws. The website article focused on four of these… Read More »