by Christine | Nov 23, 2015 | Estate Planning, Estate Tax |
Paying estate taxes requires assets that can be easily turned into cash or dipping into cash accounts. This often becomes a major problem for executors of large estates. If proper planning has not taken place, prized possessions may have to be put on the auction block...
by Christine | Nov 16, 2015 | Estate Planning, Estate Tax |
The state estate tax is the one that most Americans must be aware of when working with an attorney on their estate plan, as most states estate taxes have far lower exemptions than the federal estate tax. What if your estate is worth less than $5 million, even when...
by Christine | Nov 13, 2015 | Estate Planning, Estate Tax |
It is said that the rich are different from you and me, and that is true. The assets of wealthy people can be grouped into a few categories, and trust us, they are no different than regular people. There is a lot of media coverage and discussion about the federal...
by Christine | Nov 9, 2015 | Estate Planning, Estate Tax, Gift Law |
According to the IRS, there will be increases to tax exemptions for estate and lifetime gift tax exemptions in 2016. By law, every year the IRS must determine exemption limits for federal estate tax and the lifetime gift tax based on inflation. And every year, estate...
by Christine | Oct 30, 2015 | Estate Tax |
The IRS is typically delighted to accept immediate payment for monies owed, in any form of U.S. currency. But for those who owe the IRS vast sums of money (maybe because of poor estate planning?), a new policy is likely to make this already painful transaction more...
by Christine | Oct 16, 2015 | Estate Tax |
The estate tax, enacted 100 years ago on September 8, 1915, when revenue was needed to fight a war, is a polarizing tax with enemies and friends on both sides of a big divide. One would think that any tax or law that makes it to the hundred year mark must be a good...
