Update Your Tax Software For Protection and Tax Savings
Just a quick reminder that there were many changes in the tax laws for tax year 2008. And, to make sure that take advantage of any beneficial changes you should update the program and download any recent updates before preparing your return. For more, just click here to visit the Wall Street Journals article. …
Do Proposed Benefits of Death Tax Reform Really Hide Dangers?
Many articles, websites, blogs and government talking heads have been out in force to reassure tax payers and particularly the owners of family farms and small businesses, that the reforms proposed by the Obama Administration to the death tax will be highly beneficial and pose no dangers to these groups. But see David Frees’recent …
No More Federal Estate or “Death” Taxes! Who said this on the View?
OK. This is not a completely serious blog entry. But wait. Federal estate taxes and death taxes are a serious topic. Have you ever wondered why your family has to pay a death tax? Have you ever thought that the federal estate tax seems unfair or that you have already paid taxes many times already …
Possible Secret “Back Door” Death Tax Increase
There is currently a bill before the House Ways and Means Committee that would radically increase the federal estate (also known as the “Death Tax”). Are you trying to pass on assets, investments, family land or farms, or a family business? If you are, then things might be about to get a lot rougher. …
Taxes and Estate Planning – What Tax Systems Really Matter?
If you are a Pennsylvania resident, there are many different taxes and tax systems that have to be considered in creating any truly effective plan. In addition to the federal estate taxes, you should also consider the effect of gift taxes, state and federal income taxes, the Pennsylvania Inheritance Tax, and in many cases, the …
Family Get Togethers and Business Meetings Are Part of Leaving a Great Legacy and Building A Great Life and A Great Estate Plan
How meeting software and calendar coordinating web sites make your life a little better, your relationships stronger, and your estate and asset planning more effective. Have you found that the pace of your life or your business is so hectic that even getting together with family, friends, and for business is getting harder …
How long does probate take?
The length of the probate process in Pennsylvania (PA) or other states varies greatly from estate to estate. The determining factors include the assets involved in the estate, the experience of the Executor/Administrator and counsel and the ease in dealing with the beneficiaries. Contrary to common belief, the process is rarely impacted by the actual …
Some Things That Can Ruin Estate Plans and Information We Need To Adapt
Our best laid plans can go awry. And, as they say in the armed forces, “No plan survives contact with the enemy.” Indeed, many financial plans have been rendered obsolete or non functional by recent events. As we have observed before, many wills and estate plans in Pennsylvania fail because families fail to structure their …
We Answer Your Questions About Pour Over Wills, Handwritten Wills and, Who Should Be executor
We have just posted the answers to some of your recent questions. Please enjoy this brief video and the answers to your questions. Just click below: What is a pour over will? Click Here. What is a Holographic or Handwritten Will and why avoid them? Click Here. Who should be the executor …
What is probate?
Probate is the court oversight of the estate administration process after a person passes away. Only certain assets are considered probate in nature. Probate assets typically are those owned by the decedent in the decedent’s individual name without a beneficiary designated. The Executor, where there is a will, or Administrator, where there is no will, …