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Posts tagged "Estate Taxes"

New estate tax proposal debated

A Congressional bill recently introduced would modify the manner in which we pay the federal estate tax. This would give taxpayers inheriting money the choice between paying the estate tax or, in the alternate, paying a small percentage of their gross income for a period of seven years or more.

Do estate taxes apply to me and can I avoid them? (2 of 2)

Welcome back. We are currently discussing methods of reducing or avoiding the federal estate tax, which applies to property that is passed to heirs upon death. The most important thing to point out is that estate taxes do not apply to everyone. In fact, 99.8 percent of estates are subject to the tax because of the high exemption that exists, according to the Center on Budget and Policy Priorities.

Do estate taxes apply to me and can I avoid them? (1 of 2)

Federal estate tax applies when property such as cash, stocks, real estate and other property is transferred from a deceased person to his or heirs. However, estate tax does not apply to everyone. In fact, only about two out of every 1,000 estates in the U.S. are subject to the tax because of the high exemption amount that exists, according to the Center on Budget and Policy Priorities.

It's been a few years. Have you updated your trust?

It would be great if an estate plan were something you could just set and forget, but life rarely works that way. Many people take responsible action and develop an estate plan that will provide tax savings and protect their assets for their spouses and children. If they don't update those plans to reflect changes in life and the law, however, those careful plans may turn out to be ineffective.

A brief reflection on retirement planning and taxes 2

We are still talking about -- or, as a 12-year-old niece would say, still talking about -- sales tax and its impact on estate planning. We admit that 12-year-olds may not be the only ones that were hoping for more drama here -- trust us, if we could think of a way to incorporate a superhero, we would do it.

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