Estate taxes. It’s not enough to simply know they exist and to know strategies to minimize them. When it comes down to it, you need to plan how you and your family will eventually pay them. The Estate Tax Dilemma Estate taxes are generally due nine months after the date of death. And they are …
Married couples have several ways to potentially avoid any estate tax liability when they leave assets to each other. Because of the unlimited marital deduction, no estate taxes are due when one spouse dies and leaves his or her assets to the survivor (as long as the surviving spouse is a U.S. citizen). However, this …
There are a number of different gifting strategies available for planned giving. Each has its advantages and disadvantages. Instead of making an outright gift, you could choose to use a charitable lead trust. With a charitable lead trust, your gift is placed in a trust. The recipient of the gift draws the income from this …
The history of estate taxes in America has been a long and winding road. Careful estate planning is still one of the most important ways to manage and protect your assets for your heirs. The Stamp Act of 1797 was the first federal estate tax in the United States and was passed to help fund …
Building an estate can take years of diligent saving and investing. Once you have built up an estate, you’ll want to make sure that you preserve its value for your heirs. You can also add to or create a valuable estate by using life insurance. Why Create an Estate? Premature death can result in financial …
There are a number of ways your estate can be distributed to your heirs after your death. Each allows a different degree of control over distribution, and each poses different challenges and opportunities. If you haven’t taken steps already, it’s important to consider planning now for the distribution of your assets. Intestacy If you die …
How Can I Control the Distribution of My Estate? Read More »
Living trusts enable you to control the distribution of your estate, and certain trusts may enable you to reduce or avoid many of the taxes and fees that will be imposed upon your death. A trust is a legal arrangement under which one person, the trustee, controls property given by another person, the trustor, for the benefit …
How Can a Living Trust Help Me Control My Estate? Read More »
Have you ever wondered what will happen to your estate after you die? How long will it take for your loved ones to receive the estate you’ve left them? Will each receive what you’d like them to have? If you’re like most people, your estate will go through a lengthy probate process. Probate consists of …
By taking steps in advance, you have a greater say in how these questions are answered. And isn’t that how it should be? Wills and trusts are two of the most popular estate planning tools. Both allow you to spell out how you would like your property to be distributed, but they also go far beyond that. …
What Key Estate Planning Tools Should I Know About? Read More »
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