We previously posted about the [Read More]
Estate of Robin Gibb Could Spend Years in Probate
Estate planning attorneys will always advise clients to be aware the realities of probate. It can seem as though executing a last will as your primary vehicle of asset transfer is the simplest and most efficient solution. However, you would do well to understand the fact that your estate must be probated when you use … [Read More]
Pet Planning: Have Your Questions Answered
One of the things that can be a bit challenging to address when you are making preparations for the future is the way that you will be making provisions for your pet. If you have a dog, cat, bird or any other type of animal you must ask yourself what will become of your friend … [Read More]
Probate Avoidance Is Often an Estate Planning Goal
We try to educate people about some of the intricacies of estate planning because many individuals go forward with certain misconceptions. They don’t understand the value of comprehensive estate planning because they don’t know all the facts. Imagine a mental picture of a family getting together after a funeral. Someone takes control of the proceedings … [Read More]
Wondering About Probate? Get the Facts
The process of probate is something that you should take into consideration when you are planning your estate. You may envision a somber meeting among family members where the last will of a deceased individual is read. In fact, things do not stop there. The estate must be probated when a last will is used … [Read More]
Estate Planning for Pet Owners
When you get up there in years you invariably lose people that were close to you. Your spouse and siblings may pass away, you no longer have interactions with your coworkers as a retiree, and you may not spend as much time with your children as you would like to. There is no substitute for … [Read More]
Providing for Your Grandchildren
It is no secret that grandparents generally have very special relationships with their grandchildren. When you are [Read More]
IRS Sets Adjusted Exclusion Amount
We recently reported on the fact that the budget agreement that was reached to stop the United States from going over the so-called “fiscal cliff” had some impact on the federal estate tax. The maximum rate of the tax went up from the 35% that was in place last year to 40%. The exclusion stayed … [Read More]
President Proposes Estate Tax Increase
We currently have a $5.25 million unified exclusion that applies to your estate and the taxable gifts that you have given throughout your life. The maximum rate of the estate tax and the gift tax at the present time is 40%. These parameters were supposedly “permanently” put into place after the passing of the American … [Read More]
Inheritance Tax Vs. Estate Tax
A lot of people think that an estate tax and an inheritance tax are one and the same, but in fact they are two different things and we would like to clear up the distinctions here. The estate tax is levied on the entirety of the estate before it is passed along to the heirs. … [Read More]
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