There is a federal gift tax in the United States, and it is unified with the federal estate tax. The maximum rate of the gift tax and the estate tax is 40 percent. Federal transfer taxes can be levied on gifts that you give to your children. Annual Gift Tax Exclusion Most people never pay … [Read More]
Three Common Estate Planning Misconceptions
There are a number of misconceptions that people sometimes harbor about estate planning, and we would like to take a look at three of them here. 1. Estate planning is not important yet because I’m still relatively young. There is a lot of procrastination when it comes to estate planning, and the idea that there … [Read More]
Unequal Inheritances: Communicate With Loved Ones
In many ways [Read More]
Two Wills You May Overlook
There are a number of estate planning documents that the typical layperson may not have ever heard of, but the [Read More]
The Legacy of Jerry Buss
Inheritance Assumptions May Not Be Wise
Of course nobody wants to see their parents or grandparents pass away, and when this takes place it can be emotionally devastating. That being stated, everyone does pass away. As a result it would be disingenuous to suggest that people do not anticipate receiving inheritances. There are those who may not take retirement planning all … [Read More]
Three Things a Revocable Living Trust Won’t Accomplish
To learn more, please download the qualified personal residence trust in connecticut report here for free. [Read More]
Preparing for an Initial Estate Planning Consultation
Okay, so you have finally taken the plunge. You have put the procrastination behind you, picked up the phone, and set up an initial consultation with an [Read More]
Lack of Planning May Enrich State of New York
When you go through life without an estate plan you are taking certain risks. If you were to pass away without executing a last will or some other type of estate planning document such as a trust the state would ultimately be charged with the responsibility of distributing your assets. There are laws of intestacy … [Read More]
Choosing an Executor or Trustee
There is a postmortem aspect to consider when you are planning your estate. Once you decide on a vehicle of asset transfer you have to ask yourself who will be carrying out these wishes that you have recorded on paper. Those who use a last will to state their final wishes must choose an executor … [Read More]
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