Learn how the Republican blueprint for tax reform would impact different families from an estate planning perspective. Read on to learn more. … [Read more...] about How Tax Reform Could Impact Various Families
There’s a Republican blueprint for tax reform. Learn the general provisions of the plan and the uncertainties in it. Read on to learn more. … [Read more...] about Tax Reform and the Estate Tax
What is “portability” and how is it elected? This article discusses these topics and explains some shortcuts that can be taken when filing a return only for portability. Read on to learn more. … [Read more...] about Basics of Estate Planning: Portability
You can feel a sense of security when you have accumulated a significant quantity of wealth. As an individual, you have a lot of freedom, and you don't have any worries from a financial perspective. Plus, you can go forward with the knowledge that you will be able to make things easier on your loved ones after you are gone. While all of the above is true, you do have to be aware of the potential impact of the federal estate tax. This tax packs a wallop, because it carries a 40 percent maximum … [Read more...] about Citizenship Impacts Estate Tax Marital Deduction
You may not consider the possibility of the utilization of a trust when you are planning your estate. Many people think that a trust is something that is a bit more fancy that essentially does the same thing as a will. In reality, this is not the case at all. There are different types of trusts that can be used, and they can satisfy various different respective objectives. Let's look at some of the reasons why you may want to utilize a trust as part of your estate plan. Spendthrift … [Read more...] about Why Would Someone Use a Trust Instead of a Will?
There are numerous ways to provide for your loved ones when you are planning your estate. To be optimally prepared, you should carefully consider the life situation of each person that will be receiving an inheritance. Sometimes, a mistake can be costly. With this in mind, in this post we will look at the legal device called the supplemental needs trust. Impact of Direct Inheritance If you have someone with a disability on your inheritance list, you should consider the potential impact of … [Read more...] about What Is a Supplemental Needs Trust?