One of the reasons that most of us work hard and save wisely throughout the course of our lives is so that we will have something to leave behind to provide for our loved ones when we are gone. If you are planning to pass down assets to your children in your estate plan, you undoubtedly want to maximize the value of the estate you leave them. One mistake you definitely want to avoid is failing to consider the impact taxes will have on the value of your estate. You may already know that all … [Read more...] about Will My Children Have to Pay North Dakota Inheritance Tax?
For most people, one of the primary incentives for working hard and accruing assets over the course of a lifetime is to be able to pass those assets down to the net generation. This is also why create a comprehensive estate plan is so important -- to ensure that those assets are passed down as intended when you die. One concern you may have when it comes to passing down your assets is the impact taxes will have on the transfer of those assets. Specifically, you may be worried that your … [Read more...] about Will My Beneficiaries Face Inheritance Taxes When I Die?
In addition to the federal estate tax, there are a total of 15 states in the union that impose state-level estate taxes. The state-level exclusions are typically lower than the federal exclusion. As a result, you could be exposed to a state-level estate tax even if you are exempt from the federal tax. We practice in North Dakota, and our state is not one of these 15 states. Topics covered in this report include: Inheritance Tax Income Taxes Click here to read the whole article or … [Read more...] about Free Report: Will My Heirs Be Forced To Pay A North Dakota Inheritance Tax