The federal estate tax looms large for people who have been successful throughout their lives. At the current time the maximum rate of the estate tax is 40%, and the lifetime exclusion is $5.25 million. There are various different recommendations that astute estate planning lawyers can make for people who are faced with the prospect … [Read More]
How Is Property Distributed If There Is No Will?
intestate succession laws of the state of Connecticut. Intestate succession laws are similar in every state, but there are some differences. If you passed away in Connecticut with children still alive but no spouse, your children would inherit all of your probate property. Your spouse would inherit everything if you had a surviving spouse but … [Read More]
Don’t Forget IRS Form 709 to Account for Gifts
A lot of people are not aware of the fact that gifts that you give throughout your life are potentially taxable. We have a federal estate tax in place, and the gift tax prevents people from giving away their assets while they are still alive in an effort to avoid the estate tax. The two … [Read More]
Value of Home Can Create Estate Tax Exposure
When you are [Read More]
Annual Gift Tax Exemption for 2013
You have to concern yourself with the potential ravages of the [Read More]
How Fiscal Cliff Deal Impacts Estate Tax
We would like to share the outcome of the fiscal cliff compromise as it applies to the estate tax here so that you can understand the playing field going forward in 2014. As it turns out the maximum rate of the estate tax went up, but the increase is not going to be as damaging … [Read More]
What is Estate Planning?
What is Estate Planning? from [Read More]
Consider QPRT in Light of Coming Changes
For 2014 the federal estate tax exemption is scheduled to be $5,340,000, which was an increase based on inflation from the exemption amount of $5,250,000 in 2013. As of this writing in 2012 the [Read More]
What is the Unlimited Marital Deduction?
What is the Unlimited Marital Deduction? from [Read More]
What Is A Dynasty Trust?
The vast majority of people who are working do so because they are trying to earn a living. It is logical to try to make the most of the time that you spend on the job, and all responsible individuals would like to gain some financial security for the well-being of their family members. If … [Read More]
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