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Understanding Estate Taxes & Advanced Planning


Understanding estate taxes, inheritance taxes and gift taxes is essential to planning an estate. And once the basic estate plan is in place, the next step is to assess the need for asset protection planning and other types of advanced planning.
  1. Understanding Federal Estate Taxes
  2. Understanding State Estate Taxes
  3. Understanding Inheritance Taxes
  1. Understanding Gift Taxes
  2. Asset Protection Planning
  3. Advanced Estate Planning

Understanding Federal Estate Taxes

While under current law the federal estate tax is scheduled to completely disappear in 2010, no one believes that Congress and President Obama will let this happen. Learn what types of taxes affect an estate, how to determine if your estate will be subject to these taxes, and how to reduce or even eliminate your estate tax bill.

Understanding State Estate Taxes

While your estate may not be subject to federal estate taxes due to the current $3.5 million exemption, your estate may still be subject to state estate taxes. Prior to 2005 all states collected an estate tax known as the "pick up tax," but currently only 18 states and the District of Columbia still collect an estate tax at the state level. Find out if your state is one of them.

Understanding Inheritance Taxes

Currently seven states collect a separate state inheritance tax, which is completely different from an estate tax. Learn what an inheritance tax is and if your state collects one.

Understanding Gift Taxes

The federal gift tax is probably the most misunderstood tax. Learn what the gift tax is, what kinds of gifts are subject to it, and how to make sure that you follow all of the applicable rules if you make a taxable gift.

Asset Protection Planning

Asset protection has become a hot area of advanced estate planning. Learn what asset protection is and how to put together a plan that will protect your hard earned assets from creditors and lawsuits and your family's inheritance from lawsuits, creditors, and divorcing spouses.

Advanced Estate Planning

Advanced estate planning is not just for the wealthy since it comes in many different forms and can be used to benefit a wide variety of people. Learn what advanced estate planning is and if you should incorporate any advanced estate planning techniques into your estate plan.

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