Category Archives: Estate Planning

Health Care Documents are Often Forgotten When Creating A Will

Health Care Documents are Often Forgotten When Creating A Will

Do you have a Living Will  and a Health Care Proxy?  As I drafted a Last Will and Testament tonight, I thought to myself do people understand what these ancillary documents are, or better yet, do people know they even exist? While the documents themselves aren’t entirely difficult to understand, the choices you have to… Continue Reading

The House Passes Estate Tax Bill to Freeze Current Exemptions and Rates

The House Passes Estate Tax Bill to Freeze Current Exemptions and Rates

In a vote closer than I expected the house passed, an Estate Tax Bill!  For all intents and purposes the bill freezes the Federal Estate Tax (Remember State Estate tax is different) so that every U.S. Citizen has a $3,500,000 exemption and anything above that amount is effectively taxed at 45%. The Bill passed 225 to… Continue Reading

Gift Laws and Taxes Made Simple

Gift Laws and Taxes Made Simple

Most people just assume they can give away whatever they want in any situation; that is just not true. Ignoring gifting laws and taxes can cost you and your family a lot of money!  When gifting large sums of money there are federal tax implications one should keep in mind. Gift Tax Introduction What is a… Continue Reading