While it might seem too soon to think about this uncomfortable topic, it’s still something that needs to be carefully planned to make everyone’s life a little easier as they handle the grief of losing a loved one.
We’re all looking to save taxes, court costs, legal fees and ‘make it simple’ for our heirs. A last will and testament is the cornerstone of all estate planning, maybe with a trust.
Thinking about what happens to your family when you pass away may be upsetting. However, it can be a good way to reduce the stress your loved ones will deal with during the grieving process.
The Internal Revenue Service Today announced new inflation-adjusted limits for 2023 that will allow well-off individuals to transfer much more to their heirs tax free during life—or at death.
Few will argue that the most important time to have a will is when you are parents of young children.
An estate plan works like the operating system on your phone or computer. It runs in the background. However, it needs occasional updates to keep the plan current.
If the surviving spouse is a second or subsequent spouse and did not have any children with the decedent, the surviving spouse takes even less.
The problem is that while you expect to die of old age, this is not always guaranteed–which may cause uncertainties in the way your assets are distributed.
Transferring a home to adult children is not quite as easy as giving them the keys and letting them move in. No matter how you do it, the taxman wants his cut, whether through estate and gift taxes or those for property and income, both federal and state.
It goes without saying that everyone should have an estate plan.
1601 N. Flamingo Road, Suite 1
Pembroke Pines, FL 33028
1601 N. Flamingo Road, Suite 1
Pembroke Pines, FL 33028
