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
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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
A Look At Supplemental Security Income
Elder law attorneys place an emphasis on all legal matters that impact senior citizens, and when you are planning for the future it is important to be aware of all of the resources that may be available to you. When you think about government programs for senior citizens the first thing that is going to come to mind is Social Security. In order to be able to collect Social Security benefits you must have contributed a sufficient amount into the system during the years that you were … [Read more...] about A Look At Supplemental Security Income
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
Durable Powers Of Attorney: A Brief Explanation
Estate planning clearly involves arranging for the transfer of assets to your loved ones after you pass away. But, when you are making preparations for the future it would be wise to consider all the eventualities of aging. There are elder law issues that you may face when you reach an advanced age, and you may not be in a position to respond to them at that time. Therefore, to be fully protected you must make advance preparations with the assistance of an experienced elder law … [Read more...] about Durable Powers Of Attorney: A Brief Explanation
Will Revenue Be Increased By Allowing Estate Tax Relief To Expire?
It is very important to remember that estate planning is not a "one and done" kind of thing. It is an ongoing process, and it should be viewed as such. Important things that happen in your life can immediately affect your existing estate plan, and this is something to keep in mind. If you procrastinate even when you know your estate plan needs to be adjusted you are taking a gamble. And the problem with this type of wager is that you are putting your family members at risk … [Read more...] about Will Revenue Be Increased By Allowing Estate Tax Relief To Expire?
Making Philanthropy Part Of Your Estate Plan
Estate planning can on the surface seem like a rather straightforward and calculated financial matter. You inventory your assets, identify those who will be included in your inheritance plan, and consult with an estate planning attorney to find out how to transfer your assets in an optimal manner. Though the above is certainly necessary, there is another aspect to estate planning that looms like the proverbial 600 pound gorilla in the room. In the Western Hemisphere people don't … [Read more...] about Making Philanthropy Part Of Your Estate Plan
Did Amy Winehouse Have An Estate Plan?
The horrible news of the death of Amy Winehouse was circulated recently, and she was a talented individual who certainly passed away before her time at just 27 years of age. She joins what they call the "27 Club," a group of music superstars who all died at the tender age of 27. This group includes Kurt Cobain, Brian Jones, Jim Morrison, Janis Joplin, Jimi Hendrix, and the legendary bluesman Robert Johnson. Amy Winehouse became the first British woman to win five Grammy awards in … [Read more...] about Did Amy Winehouse Have An Estate Plan?
Alexander McQueen Left Three Dogs $82,000
When you're planning your estate it is a good idea to engage the services of an estate planning attorney for a number of different reasons. For one thing, there is more to it than simply drawing up a last will. A last will is one way to transfer assets to your loved ones, but there are other options as well and the ideal strategy is going to vary depending on the identity of your assets and exactly what it is that you want to accomplish with your estate. Another reason why it is … [Read more...] about Alexander McQueen Left Three Dogs $82,000
