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There have been significant to the laws in the past 5 years. In 2012, congress enacted the American Taxpayer Relief Act of 2012 (the “Act”). The most relevant changes in the law that impact the average living trust include tax exemption changes and portability. Learn more…
In part 1 we covered the gift tax. In part 2 we will cover the federal estate tax. The Federal Estate Tax is a tax on your right to transfer property at death. Learn how to mitigate the this tax.
We all worry about income tax, but there are other taxes that you need to consider. In the first on this 3 part series, we will discuss the gift tax.
Learning about estate planning can be confusing since there is so much misinformation out there. Simply, estate planning allows you to legally appoint agents to act for you if you cannot act for yourself, and it allows you to document your wishes as to your end of life decisions, and how you would like your belongings to be distributed to your heirs at your death. It does require some time and effort to put in place; however, getting it done will give you peace of mind knowing that your affairs are in order.
The primary goal of retirement planning is to maintain roughly the same living standards. However, achieving this goal can be challenging without a proper retirement plan. So how can you achieve financial security and happiness after retirement? Here are the top 3 ways.
First, understand that having a will and other legal documents in place will take a huge burden away from your children, other family, and friends. In addition to a will, which you definitely need, consider setting up a trust. Having a trust means that you can put certain conditions on how your assets are distributed and reduce the amount of taxes your heirs have to pay.
On behalf of Lisa Bryant of The Law Offices of Lisa C. Bryant, Inc. posted in Estate Planning on Monday, May 1st, 2017.
The political climate has changed dramatically since the election of Donald Trump, to put it mildly. It’s not always easy to figure out what the president is planning to do and how well he is working with his Republican colleagues in Congress. However, proposed budget cuts may dramatically affect several important Federal senior programs.
On behalf of Lisa Bryant of The Law Offices of Lisa C. Bryant, Inc. posted in Estate Planning on Monday, May 22nd, 2017.
When it comes to retirement planning, most advice focuses on how to save money and manage a 401K or pension plan. And of course, good estate planning is very important for a dignified retirement. However, it’s vital to remember the rest of life in your plans, too.
On behalf of Lisa Bryant of The Law Offices of Lisa C. Bryant, Inc. posted in Estate Planning on Monday, April 10th, 2017.
We know that most people think of pre-nups as somewhat shady agreements…