If you have never researched the subject you may envision a certain scene that may take place after someone passes away. Family members gather together in a room and someone reads the last will of the deceased. A representative of some kind hands out checks and the matter is closed. In fact, things are much … [Read More]
Are You Exposed to Transfer Taxes?
One of the first things that you must do when you are planning your estate would be to inventory your assets. To be able to know what you are passing along to your loved ones you need to know exactly what it is that you have to give. The quantity of what you have is … [Read More]
Estate Planning: What You Need & Why You Need It
Once you decide that you are no longer going to procrastinate about estate planning you are going to ask yourself exactly what you need. With this in mind we would like to share the various different components that are contained within the typical estate plan. Transfer of Financial Assets: Simple Wills Clearly, arranging for the … [Read More]
Three Things to Know About Living Trusts
You should be aware of all of your options when you are planning your estate. People are sometimes hardwired to the idea that estate planning revolves around a last will. In fact, you don’t have to use a will to arrange for the transfer of your assets, and there are reasons why you may want … [Read More]
Is Philanthropy Part of Your Estate Plan?
Many people decide that they would like to give to charitable organizations when they are contemplating their legacies. This is obviously going to provide you with a personal sense of satisfaction as you assist worthy causes that are meaningful to you. At the same time, you may also be able to realize some tax benefits … [Read More]
Ray Manzarek’s Legacy
It is useful to consider your legacy as you are living your life and when you are [Read More]
Marital Estate Tax Deduction Limited to United States Citizens
In the United States we have an estate tax on the federal level. At the present time the estate tax exclusion is $5.25 million, and the maximum rate is 40%. This $5.25 million figure is subject to ongoing adjustments for inflation on an annual basis. What this means is that anything that you pass along … [Read More]
Reality TV Series to Focus on Estate Disputes
There are a number of reasons why it is important to discuss your situation with a licensed estate planning attorney rather than trying to plan your own estate using generic template documents. It is possible that members of your family may not be especially pleased with your estate plan. In cases such as these disputes … [Read More]
Lack of Estate Tax Exposure Doesn’t Eliminate Need for a Plan
Though some people would prefer that it was otherwise we have an estate tax in place on the federal level. This is applicable in all 50 states. The amount of the estate tax exclusion in 2013 is $5.25 million, and the top rate of this death levy is 40%. Not every state has an estate … [Read More]
Special Needs Trust in Westport CT: How Much Does It Cost?
There is no one way to plan an estate. There are various different courses of action that would be appropriate depending on the specific circumstances in question. In Connecticut, for example, suppose you wanted to provide resources for someone who has a disability. This person is relying on Medicaid and Supplemental Security Income to pay … [Read More]
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