by admwiu | Dec 12, 2023 | Estate planning, Research
Americans give freely to support the causes they value, from churches, education, and the arts to medical research. Fortunately, current tax laws encourage and even reward philanthropy. Beyond the basic tax deductions for charitable giving, setting up one or both of...
by admwiu | Dec 12, 2023 | Estate planning, Research, Retirement
The federal gift tax applies to gifts of property or money while the donor is living. The federal estate tax, on the other hand, applies to property conveyed to others (with the exception of a spouse) after a person’s death. The gift tax applies to the donor. The...
by admwiu | Dec 12, 2023 | Estate planning, Research
The estate tax is a tax on property that transfers to others upon your death. Estate taxes are assessed on the total value of your estate — your home, stocks, bonds, life insurance, and other assets of value — that is over the applicable exemption amount. Everything...
by admwiu | Dec 11, 2023 | Estate planning, Research
The history of estate taxes in America has been a long and winding road. Careful estate planning is still one of the most important ways to manage and protect your assets for your heirs. The Stamp Act of 1797 was the first federal estate tax in the United States and...
by admwiu | Dec 11, 2023 | Estate planning, Research
In planning your estate, it is customary to consider wills and trusts (as well as intestacy) as a means of property distribution. As a matter of fact, the manner in which you hold title to your assets may supersede provisions contained in other transfer documents....
by admwiu | Dec 11, 2023 | Estate planning, Research
Effective estate planning should address wealth transfer from a practical and cost-effective approach. One estate planning strategy that families with closely held businesses should consider is the family limited partnership. What Is a Family Limited Partnership? A...
