When Can Estate Assets Be Distributed?
March 17, 2022
Many estate executors focus on estate taxes and forget about income taxes. That can be an expensive mistake.
Many estate executors focus on estate taxes and forget about income taxes. That can be an expensive mistake.
A will is first. In essence, a will spells out who will get your stuff, in what proportions they will get it and in some instances at least, upon what conditions.
Once more hesitant to plan ahead, clients in today’s environment are much more proactive and willing to take action in the near term, rather than waiting and risking having to pay higher taxes down the line.
Standing up to a health care professional can be daunting, especially if you’re worried about a premature discharge from a hospital.
Estate planning is not a requirement. No one can force you to make your will, create a power of attorney or to own your property in a way to avoid probate. As a result, people too often let common estate planning excuses stand in their way.
My mother passed, and she was an administrator of my grandfather’s estate and the inheritances. The estate accumulated quite a bit of back taxes over the years. Will the IRS put a lien on that estate as well as hers to retrieve funds?
In estate planning, the use of trusts to manage the distribution of assets is becoming increasingly more common. However, for many people, the idea of setting up a trust during his or her lifetime is overwhelming and perhaps even unnecessary.
Being married is significant both for a married person’s lifetime estate planning and subsequent administration of the estate at death. Important rights and responsibilities exist between married persons.
Getting your estate plan in place is never a ‘one and done’ task. Estate planning is an ongoing process and should be viewed that way.
Trusts are often associated with the rich, but the uber-wealthy are not the only people who can benefit from using trusts. There is no minimum asset level or net worth required to set up a trust, and you can put any amount of money into a trust.
1601 N. Flamingo Road, Suite 1
Pembroke Pines, FL 33028
1601 N. Flamingo Road, Suite 1
Pembroke Pines, FL 33028