The federal estate tax is much maligned in some quarters because when you go looking for logic to support the tax you tend to come up empty. As a result, many people feel as though they are being asked to part with hard-earned money that would otherwise have gone to their loved ones unfairly. Some individuals call the estate tax the death tax, and though proponents of the tax feel as though this is a sarcastic and dismissive distortion of the levy there is literal truth in this … [Read more...] about Why Should Dying Be A Tax Trigger?
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Protecting The Financially Challenged
Different people have their own respective strengths and weaknesses and the truth is that not everyone is especially adept at handling their finances. This can be something that enters your mind when you are engaged in inheritance planning. It is possible that you have someone on your list who could be considered to be a spendthrift. You may be concerned about the possibility of this individual spending his or her inheritance too quickly. One course of action that you could take should you … [Read more...] about Protecting The Financially Challenged
Houston Estate Value Taking Off
South Carolina estate planning lawyers are always going to point out the fact that it is important for people of all ages to have an estate plan in place. There are those who know that they should execute the appropriate estate planning documents who fail to act because they feel as though they are not going to be passing away anytime soon. The truth is that no invitations are going to be sent out by the Grim Reaper as it were, and if you are paying attention you will see that people of all … [Read more...] about Houston Estate Value Taking Off
Understanding Social Security
As you are looking forward to the future it is important to have a good understanding of what you can expect from Social Security. If you want to be able to retire in true comfort you don't want to rely too heavily on Social Security, but if you are like most people it is certainly going to represent a significant portion of your retirement income. The first question that many individuals have about Social Security involves when they will become eligible to receive their full benefits. There is … [Read more...] about Understanding Social Security
Putting Something Away For Retirement
To be able to retire with financial freedom you have to look over the horizon well in advance. After all, you may have to pay your way for 20 years or more after you put your working years behind you and this is going to take some significant financial resources. There are those who don't worry about the future because they assume that Social Security will be enough to finance their retirement years. Depending on how much you paid into the program and what you expect your expenses to be this … [Read more...] about Putting Something Away For Retirement
What Is A Charitable Remainder Unitrust?
For many people, one of the primary estate planning objectives is going to be to do what is necessary to gain tax efficiency. There are a number of different vehicles that can be utilized, and the right combination will vary depending on the form of your assets and the specific nature of your wishes. To this end we endeavor to highlight some of the estate planning instruments that are typically utilized, and the one that we will take a look at today is the charitable remainder unitrust or … [Read more...] about What Is A Charitable Remainder Unitrust?
Estate Planning & Tax Free Gifts
One simple and straightforward way that you can reduce the overall value of your estate for estate tax purposes is by giving gifts to your loved ones while you are still alive. Unfortunately, the powers that be are well aware of this simple logic so there is a gift tax in place and it carries the same 35% rate as the estate tax. There is a lifetime gift tax exemption of $5 million, but it is unified with the estate tax. So as an example, if you were to give $3 million in gifts throughout your … [Read more...] about Estate Planning & Tax Free Gifts
Tax-Free Educational Gift Giving
There are some estate planning strategies that are rather complex, and they have their place in certain situations. But there are others that are relatively simple and straightforward, and one of them is the practice of tax-free gift giving. It would seem as though you have the right to earn money, pay income tax, and then take the remainder and give a portion of it to anyone you choose without incurring any additional tax responsibility. So the first thought that many people have with regard … [Read more...] about Tax-Free Educational Gift Giving
Schedule an Estate Planning Appointment for Your Teenager?!
The words “teenager” and “estate planning” are not typically used in the same sentence unless the typical spendthrift ways of teenagers are being discussed. That’s not what we’re talking about here. What we’re talking about is the fact that every person, age 18 or older, needs his or her own estate plan. Legally, an adult As you know, if your teenager as attained the age of 18, he or she is legally an adult. So scary, but so true. This means that to speak to medical doctors about your … [Read more...] about Schedule an Estate Planning Appointment for Your Teenager?!
Long-Term Care Help For Veterans
Planning for the future can be challenging because you can't be certain about the costs that you will be facing. You don't know exactly how well your health will hold up or what the health care system will look like in 10 or 20 years. In addition to this there are talks about alterations being made to Medicare and Medicaid. Though there are things that are out of your control, it is important to be proactive about doing what is necessary to gain an understanding of all that is available to … [Read more...] about Long-Term Care Help For Veterans
