The last proposed budget of Barack Obama’s presidency contains several changes to the tax code that could affect your estate plan.
Posts Categorized: Estate Taxes
Now that only 0.2% of us have to worry about the estate tax (for the time being, anyway), it is appropriate to focus on the capital gains tax as the primary threat to our ability to pass assets to our loved ones.
What you don’t know can take a nasty bite out of your estate.
Trusts are powerful tools that can give rise to important benefits. But not everybody needs one.
Most of us don’t have to worry about the federal estate tax, but remember that your state, or any state where you own real property, could still hit your heirs with a hefty death tax.
Something odd happened a few weeks after James Gandolfini died. The discussion shifted from shock and surprise at his death, to his will, which, unlike the wills of most wealthy people, quickly became public. Almost immediately, many experts found fault with its contents, saying it was so unwisely constructed it could lead to lawsuits from his heirs.
It’s a great idea to try to make a difference for your child while you’re here to see the process unfold – it could be one of your most gratifying life moments.
Here is a fun and harmless way to mess with your adult children’s minds.
State estate and inheritance taxes have been in constant flux over the last decade. And it’s not just the list of states that has been changing, but in some states, the level at which the tax kicks in has been changing (both up and down). So it’s important to stay on top of this to avoid a surprise tax bill.
So here's the deal.