Good time to reconsider estate planning
The goal of estate planning is to provide for the management and transfer of a person’s property in the event of death or incapacity at the smallest financial cost to the family. A properly structured estate plan allows someone to choose his/her beneficiaries, provide for the management of assets, and eliminate or reduce taxes. Without [...]
Death is the one certainty. But, planning for it is uncomfortable and can be complicated, especially when blended families, multiple marriages and changing estate and probate laws are a factor. The complications could be the reason behind why so few Americans have wills. Only 35 percent have wills and 29 percent have set up power [...]
Continue reading …At first glance, not having an estate tax may seem innocuous — but it’s not. Although the House of Representatives passed legislation Dec. 2 to extend the $3.5 million lifetime exemption, no action was taken by the Senate before it adjourned at the end of 2009. The Economic Growth and Tax Relief Reconciliation Act of [...]
Continue reading …By Michael E. McDevitt Does anyone reading this not know that our economy is suffering? I didn’t think so. More importantly, is anyone not aware that their personal investments are also suffering? Probably not. No area of our economy has been excluded from the recent suffering – real estate, the stock market, privately held businesses, [...]
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