There have been periodic flurries of news about states such as New York deciding to allow for marriages between same-sex couples over the last few years. At the present time New York joins Vermont, New Hampshire, Massachusetts, Iowa, Connecticut, and the District of Columbia as places in the United States that are issuing marriage licenses to gay couples. So for the time being, individuals who take advantage of this opportunity have the same legal rights as heterosexual married … [Read more...] about Domestic Partners Should Plan Ahead
Estate Planning
The Importance Of Estate Planning Expertise
If you are beginning to recognize the fact that you should have an estate plan in place you are probably going to start where most people do by doing some research on the Internet. There is a lot of good information to be found for sure, but you have to be able to separate the wheat from the chaff. Unfortunately there are some self-serving Internet marketers who will lure you in with the suggestion that estate planning is something that you can do for yourself. That is, if you … [Read more...] about The Importance Of Estate Planning Expertise
"Idol" Judge Cowell Wants Body Frozen
Estate planning attorneys will sometimes discuss final arrangements with their clients. It is possible to identify the funeral home that you would like to use and actually pay for the final expenses in advance. And if you want to, you can make your wishes clear in your estate planning documents regarding exactly how you would like your body to be handled and express your wishes regarding the type of memorial service you would prefer. The choice of how you want your body handled after … [Read more...] about "Idol" Judge Cowell Wants Body Frozen
Estate Tax Tantamount To A Gamble
Most Americans don't mind paying their fair share of taxes, but they really don't want to pay them twice. This is one of the problems that people have with the estate tax. Your legacy was accumulated with resources that you had left over after you paid income and payroll or self-employment taxes all of your life. In addition, people pay sales tax, property tax, capital gains tax, and a number of others that are less obvious. So why should the event of your death trigger a … [Read more...] about Estate Tax Tantamount To A Gamble
After 15 Years Anna Nicole Smith Matter Put To Rest
From the start you should look at estate planning as an ongoing process, and this is one reason why it is a good idea to develop a strong working relationship with your estate planning attorney. When you identify someone that you have come to know and trust he or she will gain an understanding of your situation over the years and give you continual, ongoing guidance so that your wishes are ultimately carried out. Multiple changes in marital status are quite common these days. When … [Read more...] about After 15 Years Anna Nicole Smith Matter Put To Rest
Life Insurance Can Serve Multiple Purposes
Estate planning attorneys will emphasize the importance of estate planning for people of all ages, even if you don't have a lot of financial resources to pass on to your loved ones. One of the primary reasons for this is because if you're like most people, your family relies on your income to maintain their quality of life. If you were to die suddenly in an accident or due to a catastrophic medical event, your family would be left in a very difficult situation financially as well as … [Read more...] about Life Insurance Can Serve Multiple Purposes
Soul Singer Brown Left Tangled Legacy
There are a tiny handful of entertainers that reached the status of legend while they were still alive and performing, and without question James Brown, the inimitable "Godfather of Soul," was one of them. He changed the face of the music industry over his long and illustrious career and captured just about every accolade imaginable. Four of his albums made Rolling Stone magazine's list of the top 500 albums of all time, and he was a Grammy winner who was one of the first inductees … [Read more...] about Soul Singer Brown Left Tangled Legacy
Gifting Can Provide Estate Tax Efficiency
It is certainly a good feeling to know that you will be able to pass along a robust legacy to your loved ones. However, if you're in this position you may be faced with the need to gain estate tax efficiency. Right now the estate tax exclusion stands at $5 million, and the maximum rate of this federal levy is 35%. However, this does not mean that you need not concern yourself with the estate tax if your estate is worth less than this $5 million threshold. Late last year a … [Read more...] about Gifting Can Provide Estate Tax Efficiency
A Look At The QPRT
When you are preparing your legacy you not only have to arrange for the transfer of assets to your loved ones, you have to make sure that it happens without losing anything in the process. There are sources of asset erosion that exist, and the one that is most profound is the estate tax. A lot of people are under the impression that the estate tax does not apply to them because they're not among the upper crust, but in reality you can be exposed to the estate tax even if you would … [Read more...] about A Look At The QPRT
The Rudiments Of Estate Planning
Depending on the length and breadth of your assets and the specific nature of your wishes exactly how to proceed when planning your estate is going to vary. This is why it is always going to be a good idea to consult with an experienced estate planning attorney when you get serious about planning for the future. He or she will listen as you explain your objectives and advise you accordingly so that your legacy will in the end match your vision. Along these lines you are going to need to … [Read more...] about The Rudiments Of Estate Planning
