One of the reasons why it is important to retain the services of an experienced estate planning attorney when you get serious about planning for the future is because of the fact that the typical layperson would have no reason to have an understanding of all the different vehicles of asset transfer that are available. … [Read More]
Springing Powers Of Attorney
Many people who visit an estate planning attorney to make preparations for the distribution of assets to their loved ones after death also want to develop a comprehensive end-of-life plan. It is not a subject that most individuals are very anxious to think about, but few of us pass away peacefully in our sleep one … [Read More]
A QPRT Can Keep The House In The Family
When you are planning your estate you may find that like many people, your home is the single biggest asset that you have. Home ownership has long been the key to wealth building in the United States, and your house may well have appreciated quite a bit since you first purchased it three or four … [Read More]
A Look At Special Needs Planning
When you are engaged in estate planning you have to consider the optimization of your assets as you plan for their ultimate transfer to your loved ones. This is familiar territory for most people because this type of activity resembles the financial planning that you have engaged in all of your life. However, in addition … [Read More]
The Living Will Explained
If you are one of the many who has never given estate planning a whole lot of thought the term probably conjures images in your mind of the classic estate planning document that you hear people talk about in the old movies: the “last will and testament.” Most people are aware of the fact that … [Read More]
Reducing Estate Tax Exposure
As a result of the passage of the new Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 there are new estate tax parameters in place. The estate tax was repealed for 2010, but in 2009 the exclusion was $3.5 million and the maximum rate of the tax was 45%. In what was … [Read More]
Five Estate Tax Repeal Bills Introduced
When a bill that results in a 35% estate tax winds up being called a “tax relief act” there’s something wrong with the playing field. While it is true that the reduction in the estate tax rate to 35% from the 55% that had been anticipated for 2011 (and the 45% that was in place … [Read More]
Long Term Care Assistance For Veterans
When you are preparing for the latter stages of your life it can be challenging because there are so many variables involved. How you position your assets is going to vary depending on your liquidity needs and other factors. Since you can’t peer into the future all you can really do is keep yourself informed, … [Read More]
35% Estate Tax: This Is Relief?
We have all had time to stop and think about the ramifications of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, and a bit of distance always provides an altered perspective. Throughout the 2010 calendar year, during which the estate tax was repealed, the exclusion was scheduled to be just $1 … [Read More]
GST Tax, Gift Tax Impacted By Tax Act
It is interesting to observe the manner in which wordplay is used in the popular lexicon in an effort to take ownership of popular measures or attach blame for unpopular ones. The term “Bush tax cuts” has been universally used to describe the Economic Growth and Tax Relief Reconciliation Act of 2001, and talks on … [Read More]
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