How Bad Will Your Estate’s Taxes Be?
There were only approximately 1,900 taxable estates in the U.S. in 2018, which is less than 0.1 percent of people who died that year.
Business Exit Planning and Estate Planning
Thinking of exit and estate planning in tandem, allows owners to ask relevant questions to bring their entire picture into focus.
What Does ‘Portability of Estate Tax’ Mean?
Portability first emerged as an estate planning strategy in 2011 and 2012 from the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010. It was made permanent by the American Taxpayer Relief Act of 2012.
Do I Have to Pay Taxes on My Inheritance?
An inheritance is not subject to income taxes.
Will We Have to Pay Gift Taxes if We Give a Rental Property to Our Son?
How should we best do this, so that we avoid future gift taxes?
How Can I Upgrade My Estate Plan?
Everyone’s heard the stories of celebrities who died without a proper estate plan in place. It’s been a hot topic in the last few years with Prince and Aretha Franklin serving as unfortunate faces of the phenomenon. However, it’s not just freewheeling entertainers.
What Does Portability Mean, and How Do I Use It?
Portability first emerged as an estate planning strategy in 2011 and 2012 from the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010. It was made permanent by the American Taxpayer Relief Act of 2012.
What Does an Estate Planning Attorney Really Do?
Estate planning is a systematic process, which involves getting your personal and financial goods for the time, if you pass away or become mentally ill. It is also known as last will, and almost everyone does this planning for their family.
What You Need to Understand about Step-Up in Basis At Death
There are several tax concepts that are important for real estate investors, but for many people, step-up in basis is one of the least understood.
Tips on Owning Property with Someone Other than Your Spouse
It’s very common for spouses to title property they own together as ‘joint with right of survivorship.’ When one passes, the other owns the property outright. It’s simple, easy and automatic. However, it can get messy when the other joint owner isn’t your spouse.