If you are like most people, estate planning often feels like trying to complete a giant puzzle, except the pieces keep changing. The most recent of those puzzle pieces to change is how the lifetime exemption is used when calculating your estate’s federal gift and estate tax obligation. The good news is that the recent changes could help you transfer considerably more of your wealth tax-free over … [Read more...] about Estate Planning Attorneys Explain Gift and Estate Taxes
Creating a comprehensive, and successful, estate plan requires you to consider much more than simply the division of your estate assets when you are gone. Protecting those assets up to the point when they are passed down to loved ones, for example, should be a primary estate planning objective in every estate plan. That requires you to consider the impact federal gift and estate taxes might have … [Read more...] about Federal Gift and Estate Tax Basics
Despite the fact that it is something that affects only a tiny portion of estates each year, the estate tax is viewed with dread by many people across the country. Others simply resent the thought of having the government tax at death wealth that they already paid taxes on while they were alive. Whatever their reasons, the fact remains that most people want to avoid the estate tax whenever … [Read more...] about Estate Planning Peace of Mind: Making Sense of the Federal Estate Tax
When many people hear the words estate plan, they often think only about their Last Will and Testament. After all, most people view their wills as an indispensable document that disburses their assets to loved ones after death. And since that is the primary concern many American have when it comes to end-of-life planning, it is only natural that they consider a will to be the only thing they need … [Read more...] about How Can Estate Taxes Derail Your Estate Plan?
Whether you already have an estate plan in place, or you are just contemplating the creation of one, you will need to understand how inheritance taxes can impact your estate. Without careful planning, inheritance taxes can put a significant dent into the value of the estate you leave behind for your family and other beneficiaries because every dollar your estate pays in inheritance (and//or gift … [Read more...] about Is There a Florida Inheritance Tax?
Inheritance and Estate Taxes in Florida: Definitions, Differences and Considerations from Robert Kulas Beyond inheritance and estate taxes, there might also be income tax considerations you need to make when you receive inheritances or plan on leaving them to others. Learn more about Inheritance and Estate Taxes in Florida in this presentation. … [Read more...] about Inheritance and Estate Taxes in Florida: Definitions, Differences and Considerations