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Wills & Estate Planning: Most Popular Articles

These articles are the most popular over the last month.
Will Your Inheritance Cost You in Taxes?
If you inherit property from a family member or friend, you'll need to understand the tax consequences of receiving an inheritance. This article summarizes the different types of taxes that may affect your inheritance.
How to Find a Deceased Person's Will
If you're looking for a copy of a deceased person's last will and testament, then here are the steps that you need to take to locate it.
See How the Gift Tax Annual Exclusion Has...
The annual amount exempt from the federal gift tax, called the annual gift tax exclusion, was indexed for inflation beginning in 1997 and has slowly increased over the years. Here you will find a chart that shows the increase in the annual gift tax exclusion from 1997 through 2015.
This Chart Shows How the Federal Estate...
The exemption from federal estate taxes has gradually increased over the years while the estate tax rate has gradually decreased. Here you will find a chart that shows the increases in the exemption and decreases in the tax rate from 1997 through 2015.
Learn the Differences Between Revocable and...
When it comes to understanding trusts, knowing the difference between revocable and irrevocable trusts is crucial. If you ask for a revocable trust and get an irrevocable one, or vice versa, the legal and tax consequences will be significant.
Important Facts About Pennsylvania Inheritance...
Pennsylvania is one of six states that collect an inheritance tax, as opposed to an estate tax, at the state level. Learn all about the Pennsylvania inheritance tax laws here.
A Step by Step Guide to Finding Probate Records...
If you are interested in reviewing the information about a probate estate and obtaining copies of probate court documents, many courts now have this information posted for free online. Here you will find the steps required to locate online probate court records and request copies of probate documents.
How Does Your State Tax an Inheritance?
Currently the District of Columbia and a handful of states collect a state estate tax, while only a six states collect a state inheritance tax. Learn the difference between an estate tax and an inheritance tax and view a chart that summarizes the inheritance tax laws of Iowa, Kentucky, Maryland, Nebraska, New Jersey and Pennsylvania.
2014 State-Level Estate and Inheritance Tax Laws
Currently only a handful of states and the District of Columbia collect a state estate tax and/or a state inheritance tax. Here you'll find a chart that lists the 2014 estate tax or inheritance tax exemptions and the 2014 top tax rates.
What Are the Estate Tax Laws for Your State?
Currently only a handful of states and the District of Columbia collect a state estate tax. Here you'll find a chart that lists the historical and current estate tax exemptions for the states that collect estate taxes at the state level.
Learn About Revocable Living Trusts
A Revocable Living Trust is a legal document that is created by an individual, called a Trustmaker, to hold and own the Trustmaker's assets, which are in turn invested and spent for the benefit of the Trustmaker by an individual or institution called the Trustee.
Annual Exclusion Gift vs. Lifetime Exemption...
What's the difference between the annual exclusion from gift taxes and the lifetime gift tax exclusion? Find out here.
4 Legal Grounds for Contesting a Will
Do you think you want to contest the validity of a family member's will? Think again, since it's very difficult to win a will contest. Learn why here.
4 Ways to Avoid Costly Probate
Avoiding probate really isn't that difficult if you have the right tools and information. Learn the four ways to avoid probate and what may or may not work for you.
When Someone Dies, Who Gets to See a Copy of...
class="no-js" itemscope itemtype="http://schema.org/Article" > itemprop="description" >When someone dies,
When is Probate of an Estate Really Necessary?
One common question that is asked after someone dies is if probate of their estate will be required. Here you will find a list of reasons why an estate will need to be probated.
11 Steps Required for Settling an Estate...
Probate is the court-supervised process of settling a deceased person's final affairs. Learn about all of the steps required to probate an estate here.
How Long Does Probate Take? It Depends
One of the first questions that a probate attorney is asked by the Personal Representative and beneficiaries of an estate is how long probate is going to take. The answer to this important question depends on many factors.
What Happens to a Joint Account When an Owner...
If your loved one has died and you're the surviving joint owner of an account held with rights of survivorship or as tenants by the entirety, then you'll need to understand the tax and other consequences of inheriting the account.
2014 Changes to Estate and Gift Tax, and...
On January 2, 2013, a new law was enacted that governs estate taxes for 2013 and future years. Here you will find a summary of what the laws provide for the estates of decedents who die in 2014 as well as the 2014 gift tax rules and 2014 generation skipping transfer tax rules.
How Is the Gift Tax Calculated?
The federal gift tax applies to all gifts that you make during the course of your lifetime. Here is a guide to how the gift tax is calculated and when you might be required to pay it.
Weigh the Pros and Cons of Revocable Living...
When considering whether or not to include a Revocable Living Trust as part of your estate plan, you'll need to understand the pros and cons of using a trust instead of just a Last Will and Testament.
Probate is a Costly Court-Supervised Process
If you don't have an estate plan or have failed to completely fund your Revocable Living Trust, then your loves ones will be faced with probating some or all of your assets. The overall cost of probate will vary depending on the type and value of the property that's being probated.
What Happens to a Retirement Account When the...
If your loved one has died and you're the beneficiary of a retirement account such as an IRA or 401(k), then you'll need to understand the tax consequences of inheriting the retirement account. The results will be very different if you're a surviving spouse or not.
Death in the Family? Who Pays Off the Debts of...
If your loved one has died and the medical and credit card bills have started piling up, then you'll need to understand who will be responsible for paying off all of these debts and in what amounts. Learn who will have to pay and how much.
See How the Lifetime Gift Tax Exemption Has...
Find out what the lifetime exemption from gift taxes is and how it has changed from 1997 to the present.
What You Need to Know About Gift Taxes
The federal gift tax is one of the most misunderstood and often ignored taxes assessed by the federal government. Two states also assess gift taxes. Learn what the gift tax is and who is responsible for paying it.
Becoming a Florida Resident in 7 Easy Steps
If you are thinking about becoming a Florida resident, then follow the steps listed in this article to make your change of residence official.
How Long Will it Take to Get Your Inheritance?
Although the beneficiaries of an estate or trust may be anxious to receive their inheritance checks, there are multiple steps that a Personal Representative or Successor Trustee must take before making distributions to the beneficiaries.
What You Need to Know About the Federal Estate...
While the federal estate tax was initially repealed as of January 1, 2010, on December 17, 2010 it was resurrected and applied retroactively back to January 1. The federal estate tax is collected on the transfer of a person's assets to his or her loved ones after death, but not all estates actually have to pay the tax. Find out why.
U.S. States Without a Death Tax in 2014
In 2014 a majority of U.S. states will not collect an estate tax or an inheritance tax at the state level. Find out if your state is one of them.
How to Know if You're Named in a Will
After someone dies, when is their will read out loud to the heirs? Find this out and much more.
How to Settle an Estate in 6 Steps
There are six steps required to settle an estate through probate. Learn what they are here.
Why Estate Taxes and Inheritance Taxes Aren't...
Is an estate tax the same thing as an inheritance tax? Not at all. Learn about the differences between these two types of death taxes and which states collect them.
What You Need to Know About the Exemption from...
Definition of Exemption from Gift Taxes
Do You Know the Difference Between Per Stirpes...
When it comes to estate planning terms, two that you'll need to be familiar with are per stirpes and per capita. These are Latin terms that are commonly used in Last Will and Testaments and Revocable Living Trusts to describe how your property is to be left to your beneficiaries.
What Happens if You Die Without a Will?
What happens if you die without a will? Find out here.
What Married Couples Should Know About the AB...
Married couples can maximize the use of both of their federal exemptions from estate tax by using AB Trusts as part of their estate plan. Here's how the AB Trust system works.
2 Types of Irrevocable Trusts
An Irrevocable Trust is one that by its design can't be amended, modified, changed or revoked. In other words, once an Irrevocable Trust has been created, the written terms of the trust agreement are generally written in stone and can't be tweaked for any reason in the future.
What is an Inheritance Tax?
Definition of Inheritance Tax. Wills & Estate Planning.
Understanding Your Will: What Does 'Per...
Per Stirpes. Wills & Estate Planning.
How an Irrevocable Life Insurance Trust Can...
Many people are not aware that all of the proceeds from their life insurance policies will be included their estate for estate tax purposes. Learn how to remove life insurance proceeds from your estate by using an Irrevocable Life Insurance Trust, or ILIT.
What is a Payable on Death (POD) Account?
Payable on death accounts, also known as POD accounts for short, are a popular way to avoid probate. Learn all you need to know about POD accounts here.
Do You Need a Revocable Living Trust or Just a...
How do you determine if you need a Revocable Living Trust instead of just a Last Will and Testament? Find out here.
2013 Income Tax Brackets for Estates and Trusts
Estates and trusts that earn income during the course of any given year must file IRS Form 1041. Learn what the income tax brackets are for estates and trusts in 2013.
When Are Form 706 and the Estate Tax Payment Due?
A federal estate tax return (IRS Form 706) is only required to be filed under very specific circumstances. Regardless, some estates may need to prepare IRS Form 706 strictly for state estate tax purposes or electing portability, while others should consider filing IRS Form 706 even if it is not required to be filed. Here you will find information about when an estate tax return is required or recommended to be filed.
Important Facts About Inheriting a Payable on...
Payable on death accounts, known as POD accounts for short, are a popular way to avoid probate in the U.S. Learn about all of the tax and other consequences of inheriting a POD account here.
Do You Have a Legal Right to Challenge That Will?
A will contest can only be filed by someone who has legal standing. Find out what that means here.
Does California Collect an Estate Tax?
California, like all other states, did collect a state estate tax prior to January 1, 2005. Learn why things changed on this date and if it is possible for the California estate tax to come back.
How New Jersey Inheritance Taxes Affect an Estate
If you live in New Jersey, then you're lucky enough to live in one of the two states that collects both a separate state inheritance tax and state estate tax (Maryland is the other). Here you will find a summary of current New Jersey inheritance tax laws.
The Beginner's Guide to Trusts
A trust is a legal document that is used in estate planning. Learn all about trusts here.
What Illinois Residents Should Know About...
If you live in Illinois, then you live in one of a handful of states that still collect a state estate tax or a state inheritance tax. The estates of Illinois residents, as well as the estates of nonresidents who own real estate and/or tangible personal property located in Illinois, are subject to a state death tax in addition to the federal estate tax under the guidelines listed here.
What to Do if You Think You're Stuck with an...
By its design an irrevocable trust is just that, irrevocable, and so as a basic rule an irrevocable trust cannot be amended, modified, changed, or revoked. Nonetheless, here you will find some things to consider if you think that you are stuck with a trust that can never be changed.
What Happens to Jointly Owned Property When You...
In the context of estate planning, an explanation of the three forms of joint ownership, and what happens under each when an owner dies.
What is the Exemption From Estate Taxes?
Definition of Exemption From Estate Taxes
3 Types of Gifts the Feds Can't Tax
Not all transfers of property from one person to a nonspouse beneficiary where no cash or other monetary value is exchanged are taxable for federal gift tax purposes. Currently there are three types of such transfers that are not actually considered gifts at all for federal gift tax purposes. Learn about them here.
What Is the Future of the Estate Tax? Using...
This article discusses the possible estate tax changes that Congress and President Obama could have made in 2012 and prior years.
How to Obtain Copies of Probate Documents in...
If you are interested in reviewing the information about a probate estate and obtaining copies of probate court documents, many courts now have this information posted for free online. Here you will find the steps required to review the online probate dockets for estates that are being, or have been, probated in all 14 counties in Massachusetts.
Step by Step Guide to Opening a Probate Estate
In general, there are 8 steps that should be followed in order to open a probate estate with the appropriate state court, but some of the steps can be skipped if the decedent didn't leave a Last Will and Testament or left a pile of papers to sort through. Learn what these 8 steps are and how someone gets appointed to serve as a Personal Representative/Executor.
What Should You Do With Your Inherited IRA?
If you inherit a traditional IRA from someone other than your spouse, then you'll most likely have several different options for what you can do with your inheritance. Learn what these options are and what will work best in your situation.
Things to Know Before Hiring a Personal...
If you've been appointed to serve as the Personal Representative or Executor of an estate, then in most cases you'll be entitled to get paid for the services you provide on behalf of the estate. How much you'll receive and when you'll receive it depends on many factors.
3 Benefits of a Revocable Living Trust
When it comes to deciding whether or not you should set up a Revocable Living Trust as part of your estate plan, you'll need to understand the three main benefits that a Revocable Living Trust offers over a Last Will and Testament.
Do You Know Your Estate Tax Liability?
Whether your estate will be liable for estate taxes depends on the value of your gross estate, the amount of debt owed by you at the time of your death, the total expenses that will be incurred while settling your estate, and any deductions that your estate can take. Here's how to figure out an estimate of your estate tax liability.
What is a Transfer on Death (TOD) Account?
Transfer on death accounts, known as TOD accounts for short, are a popular way to avoid probate. Learn all you need to know about TOD accounts here.
Things to Know Before Naming a Trustee
A Trustee is the fiduciary put in charge of overseeing the day to day management of property owned by a trust. A Trustee can be an individual, an institution, such as a bank or trust company, or a combination of both.
How Estate Planning Rules Changed in 2013
On January 2, 2013, a new law was enacted that governs estate taxes for 2013 and future years. Here you will find a summary of what the laws provide for the estates of decedents who die in 2013 as well as the 2013 gift tax rules and 2013 generation skipping transfer tax rules.
6 Types of Non Probate Assets Avoid Costly...
Non probate assets are a special type of property that won't need to go through probate after you die. Learn about the different types of non probate property here.
How Federal Estate Tax Laws Work
In early 2010 the federal estate tax was officially repealed, but at the end of 2010 it was reinstated retroactively. Here you will find a summary of the current federal estate tax laws.
Overview of Oregon Estate Tax Laws
If you live in Oregon, then you live in one of the remaining states that collects a state estate tax or a state inheritance tax. The estates of Oregon residents, as well as the estates of nonresidents who own real estate and/or tangible personal property located in Oregon, are subject to a state death tax in addition to the federal estate tax under the guidelines listed here.
Beginner's Guide to Death, Estate, and...
There are two types of taxes that can be assessed against your property after you die - estate taxes and inheritance taxes, both of which are commonly referred to as death taxes.
7 Problems With Adding Your Children to Your Deed
Many people believe that adding their children's names to the deed for their home is a good way to avoid probate of the home after death. But not so fast - adding your children to your deed can lead to many unintended consequences.
Last Will - The First Building Block of an...
A will is a legal document that is the first building block to your estate plan. You can choose between either a will-based estate plan or a trust-based estate plan. Your will takes on a significantly different role depending on the type of plan you choose.
How and When to Report Foreign Gifts and...
If you are a U.S. citizen or resident alien and you receive any gifts or bequests from nonresident aliens, then you may have to report the gifts or bequest to the IRS. Learn about the filing requirements for IRS Form 3520 here.
Who Pays a Deceased Person's Bills?
When a person dies, one of the biggest concerns of the surviving family members becomes what bills they'll be responsible for paying and in what amounts. Learn who has to pay and why.
6 Types of Fiduciaries and What They Do
A fiduciary is a person or institution given the power to act on behalf of another in situations that require great trust, honesty and loyalty. When it comes to estate planning, you'll be selecting a variety of fiduciaries to act on your behalf. Here's a list of the fiduciaries you'll need to choose for your estate plan.
What Happens if I Don't Have a Surviving...
If your loved one has recently died and you're the beneficiary of a life insurance policy, learn whether or not you'll have to use the life insurance proceeds to pay your loved one's final bills.
A Quick Guide to Florida Homestead Laws
Having practiced law in Maryland for nine years before moving to Florida in 2004, I have found the laws
How New Jersey Estate Taxes Affect an Estate
In addition to a state inheritance tax, New Jersey also imposes a separate state estate tax, which has been decoupled from the federal estate tax laws.
How Much Should Your Fork Over to a Successor...
If you've been appointed to serve as the Successor Trustee of Revocable Living Trust after the Trustmaker has died, then in most cases you'll be entitled to get paid for the services you provide on behalf of the trust. How much you'll get paid and when you'll receive it depends on many factors.
U.S. States With a Death Tax in 2014
In 2014 less than half of the U.S. states still collect an estate tax or an inheritance tax (or both) at the state level. Find out if your state is one of them.
What is a Probate Attorney and What Do They Do?
A probate lawyer is a state licensed attorney who assists Personal Representatives and estate beneficiaries with all of the steps required to settle the final affairs of a deceased person.
Living Trust vs. Testamentary Trust - Do You...
In the estate planning world, the type of trust that you have, or that a loved one has set up for you, is a very important detail. And when it comes to Living
Judge Intervenes in Determining Guardian for...
When Fast & Furious star Paul Walker died in a fiery car crash back in November 2013, he left behind a 15 year old daughter named Meadow and a fortune
How to Avoid Probate With a Transfer of Death...
How a transfer on death deed (TOD deed) or similar document is used to avoid probate is fairly straightforward. Learn how this type of deed works and if one is right for you here.
How Much Does Guardianship or Conservatorship...
Once a person has been determined to be mentally incapacitated and the court establishes a guardianship or conservatorship, various fees and costs will be incurred on behalf of the ward. In fact, guardianship or conservatorship is a costly business.
How New York Estate Taxes Affect Your Estate
If you live in New York, then you live in one of the remaining states that collects a state estate tax or a state inheritance tax. The estates of New York residents, as well as the estates of nonresidents who own real estate and/or tangible personal property located in New York, are subject to a state estate tax in addition to the federal estate tax under the guidelines listed here.
How to Determine if You Need to File a Gift Tax...
It's that time of year again - time to think about that other tax return that is due on April 15 of each year, for taxable gifts that were made during the
11 Responsibilities of a Successor Trustee
In setting up your Revocable Living Trust, you'll be asked to name a Successor Trustee to administer your trust after you die. Learn what a Successor Trustee is required to do when settling your trust after you die.
Reduce the Value of Your Estate With Annual...
Annual exclusion gifts aren't really gifts at all. Learn what they are here.
3 Ways to Own Your Property
There are only three ways to own property. Here you will find a summary of each type of ownership and what will happen to the property after you die.
Before You Can Calculate Your Estate Tax...
The first step in figuring out if your estate will be liable for estate taxes is to determine what is included in your gross estate. Here's how.
Who Gets to See a Trust After the Trustmaker...
When someone dies, you've probably seen in the movies or on TV or read in a book about
What Will an Estate Planning Attorney Charge You?
There are many factors to consider when it comes to determining the reasonableness of an attorney's fees. Aside from the attorney's experience in handling legal matters similar to yours, local and even state wide business practices also influence what an attorney will charge for a particular matter. Here's a list of factors to consider when determining if the fees quoted to you by a qualified estate planning attorney are reasonable.
How to Probate an Estate
Most people have little experience dealing with what happens after their loved one dies and they get appointed as Personal Representative/Executor to settle the estate. This guide provides a general overview of the six steps required to probate an estate.
Powers of Attorney Should Be Part of Every...
A Power of Attorney is a legal document where you delegate your right to manage your property to someone else.
Heir at Law
Heir at Law. Wills & Estate Planning.
How a Revocable Living Trust Avoids Probate
A fully funded revocable living trust avoids probate of your estate after you die. Learn how the trust works to avoid probate here.
2014 Minnesota Estate Tax Laws
If you live in Minnesota, then you live in one of a handful of states that still collect a local estate tax or inheritance tax. The estates of Minnesota residents, as well as the estates of certain nonresidents are subject to a local Minnesota death tax in addition to the federal estate tax.
Important Papers to Locate After Someone Dies
After someone dies, the surviving family members will need to locate the deceased person's important papers. Here you will find a list of documents required to settle a deceased person's final affairs.
3 Types of Gifts the Feds Can Tax
The federal gift tax applies to all gifts that you make during the course of your lifetime. Whether a gift will be taxable for gift tax purposes depends on three things. Find out what they are and if you have made any taxable gifts.
2 Types of Trusts and How They Work
When you're putting your estate plan together, you'll need to understand the difference between testamentary trusts and living trusts.
Why You Should Fund Your Trust Now
In order for a Revocable Living Trust to function properly, the Trustmaker must fund their assets into the name of the trust. But what does it mean to fund a trust? Find out here.
What Happens When One Joint Property Owner Dies?
Joint Tenants With Right of Survivorship
Is Writing Your Own Will a Good Idea?
Should you write your own will? Definitely not. Here's why.
Joint and POD Accounts Avoid Probate But Aren't...
While joint accounts and payable on death accounts are an easy way to avoid probate, they can nonetheless lead to gifting issues and other unintended consequences.
Do You Understand Portability of the Estate Tax...
On December 17, 2010, the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 was signed into law. This new law modifies the federal estate tax rules by offering portability of the federal estate tax exemption between spouses. Learn what portability is here.
What is a Trust Amendment and a Trust...
A Trust Amendment is a legal document that changes specific provisions of a Revocable Living Trust but leaves the other provisions unchanged, while an Amendment and Restatement of Trust completely replaces and supercedes all of the provisions of the original Revocable Living Trust.
6 States That Collect an Inheritance Tax
Currently a handful of states and the District of Columbia collect an estate tax at the state level, six states collect an inheritance tax at the state level, and two states collect both an estate tax and an inheritance tax. Find out if your state collects an inheritance tax.
2014 Gift Tax Return - Do You Need to File One?
One of the most misunderstood taxes is by far the federal gift tax. Learn what the federal gift tax is and if you will need to file a federal gift tax return, or IRS Form 709, United States Gift (and Generation-Skipping Transfer) Tax Return, with regard to gifts that are made in 2014.
Beginner's Guide to Annual Exclusion Gifts
Definition of Annual Exclusion Gift
How to Know Where Your Property Will Go After...
Each time an estate planning attorney sits down with a new client, the attorney asks what should be a simple question, but in reality it is usually one of the most difficult questions that the client must answer. Learn what this question is and why it is the one real key to good estate planning.
Do You Own These 3 Types of Probate Assets?
When a deceased person's estate owns certain types of assets, called probate assets, then the estate will be subject to a probate court proceeding in order to get the probate assets out of the deceased person's name and into the names of the rightful heirs. Here you will find a description of the three different types of probate assets.
What is the Maryland Inheritance Tax?
Maryland is one of two states that collect an inheritance tax and an estate tax at the state level. This article explains the current Maryland inheritance tax laws.
How to Make Changes to Your Will
As long as you are mentally competent, you can change, modify, update, or completely revoke your will at any time. But how do you make changes to your will that will be legally valid? Find out.
Executor/Executrix
Definition of Executor or Executrix.
Why You Don't Want to Die Without an Estate Plan
What will happen to your property if you don't make a will and estate plan before you die? What does it mean to die “intestate?” How does a Revocable Living Trust fit into an estate plan? Learn this and more.
How to Use Form 709 to Plan Your Estate
Form 709. Wills & Estate Planning.
The 16 States That Charge an Estate Tax
Currently only a handful of states and the District of Columbia still collect an estate tax at the state level. Find out if your state is one of them.
What is a Personal Representative in Your Will?
A Personal Representative, also referred to as an Executor/Executrix or Administrator in some jurisdictions, is the fiduciary put in charge of settling a deceased person's estate.
Are Gifts to Your Spouse Taxable?
Are gifts to your spouse taxable? The answer to this question depends on the answer to two other questions: (1) Is your spouse a U.S. citizen? and (2) Is the gift to your spouse a gift of a present interest or future interest?
6 Myths About Revocable Living Trusts
Throughout my years practicing as an estate planning attorney, I've run across some common misconceptions that people have about Revocable Living Trusts. In some situations they believe that a Revocable Living Trust will do something that it really doesn't, and in other situations they believe that a Revocable Living Trust won't do something that it actually does. Learn what these common myths are and if you've fallen for any of them.
Things to Know About Paying Bills for a Probate...
If your loved one has died and a probate estate will be required, then you'll need to understand how your loved one's final bills and other debts will be handled before and during the probate process. Learn who will be responsible for paying the bills and when.
Should You Take a Gamble with a GRAT?
A Grantor Retained Annuity Trust, or GRAT for short, is a special type of irrevocable trust that allows the Trustmaker/Grantor to gamble against the odds and, if the Trustmaker/Grantor plays their cards right, then a significant amount of wealth can be moved down to the next generation for virtually no estate or gift tax dollars. Learn how a GRAT works.
6 Easy Ways to Minimize Estate Taxes
While the federal estate tax was originally repealed in 2010, it came back retroactively and remains in effect today. Many states also assess estate taxes and/or inheritance taxes. For people whose estates will be taxable at the state and/or federal level, they have several options for reducing their estate tax bill.
Archive of 2014 Weekly Wills & Estate...
2014 Weekly Wills and Estate Planning Newsletters
Writing a Will? What You Should Know About...
A Codicil is a legal document that changes specific provisions of your will but leaves the other provisions unchanged. As long as you are mentally competent, you can change, modify, update, or completely revoke your will. But when should you make a codicil and when should you make an entire new will?
2015 Changes to Federal Estate Tax Laws
On January 2, 2013, a new federal law was enacted that governs estate taxes for 2013 and future years. Here you will find a summary of what these laws provide for the estates of decedents who die in 2015 as well as the 2015 gift tax rules and 2015 generation skipping transfer tax rules.
11 Tasks of a Personal Representative During...
Learn what a Personal Representative is and what they are required to do when settling your estate through the probate process.
How to Create a Special Trust for Your Residence
NOTE: State and federal laws change frequently and the following information may not reflect recent changes
How Long Will it Take to Settle a Trust After...
How long it will take to settle a Revocable Living Trust after the Trustmaker dies depends on many factors.
What is IRS Form 706?
Form 706, Estate Tax Return. Wills & Estate Planning.
Do You Know the Difference Between Each Type of...
When it comes to understanding trusts, it is very important to understand that the name of the trust usually does not matter. What matters most is what the written trust agreement says.
Peek Inside Paul Newman's Last Will and Codicil
Actor, Director, Race Car Driver and Philanthropist Paul Newman died on September 26, 2008. His Last Will and Testament and First Codicil were signed only a few months before his death. A summary of what the will and codicil say can be found here.
Overview of Washington Estate Tax Laws in 2014
In 2014, the estates of Washington residents, as well as the estates of nonresidents who own real estate and/or tangible personal property located in Washington, are subject to a state death tax in addition to the federal estate tax under the guidelines listed here.
Top 5 Reasons Why You Should Consider Becoming...
For those wondering if becoming a Florida resident makes sense, here you will find a list of the top five reasons why moving to Florida will be of great benefit to you and your family.
What Does It Mean to Contest a Will?
A will contest is a type of lawsuit that is brought to challenge the validity of a Last Will and Testament and can be filed at one of two points during the probate process.
How to Calculate the Value of a Gross Estate
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Understanding Florida’s Simple Probate...
Florida has a streamlined process for probate of an estate if the estate meets certain conditions. Here you will learn what conditions must be met for a Florida probate estate to qualify for Summary Administration.
What Texas Residents Should Know About Estate Tax
Texas, like all other states, did collect a state estate tax prior to January 1, 2005. Learn why things changed and if it is possible for the Texas estate tax to come back.
FBO
Definition of FBO. Wills & Estate Planning.
3 Options for Paying Out an Inheritence
When deciding who you want to inherit your estate after you die, aside from figuring out who will get what, you'll need to decide how and when they'll get it. For adult beneficiaries, there are three options for giving them their inheritance.
Consequences of Receiving a Life Insurance Payout
If you are the beneficiary of a life insurance policy, then you will need to understand the tax and other consequences of inheriting the insurance.
State Tax Chart
If you are looking to move to a new state or for the best place to retire, then understanding what taxes will be associated with your move or retirement city will be important since each state has its own tax laws. Here you will find a chart that shows which states collect an income tax, sales tax, death tax, and/or gift tax.
Where Will Your Property Go When You Die?
There are three basic ways that you can own property: in your individual name, in joint names with others, and through contract rights. Learn about what happens to property in your individual name after you die.
Probate Judges - What They Are and What They Do
A probate judge is a state court official who is in charge of overseeing the probate process in his or her local jurisdiction. Learn about what a probate judge does on a day to day basis here.
Is Your Last Will Legally Valild?
When it comes to creating a Last Will and Testament that is legally valid in the U.S., it is very important to observe all of the formalities required by the laws of your state in order to make the Last Will binding on your heirs at law.
7 Consequences for Assets Left Out of a Trust
When it comes to funding your Revocable Living Trust, this step is just as important as setting up your trust.
Does Virginia Collect an Estate Tax?
Virginia, like all other states, did collect a state estate tax prior to January 1, 2005. Learn why things changed on this date and if it is possible for the Virginia estate tax to come back.
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