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You may have heard that you do not have to be concerned about the federal estate tax because it is only applicable to extremely wealthy people. In reality, this may or may not be the case, depending on your definition of “extremely wealthy.” The line that is drawn between taxable inheritances and inheritances that are… Read more »
A living trust as an estate planning vehicle that provides a number of different benefits, but this type of trust would not be the ideal choice under certain circumstances. We will look at the details in this blog post. The Benefits In a general sense, a living trust can be a good choice for you… Read more »
Wealth preservation is a very important consideration for high net worth individuals. When you are in a position to pass wealth along to your loved ones after you are gone you may enjoy a certain peace of mind, but you have to be concerned about asset erosion. The federal estate tax is a looming threat… Read more »
There are many high net worth individuals in the greater Dallas area, and when you have been financially successful throughout your life, you have to be aware of potential estate tax exposure. The federal estate tax carries a whopping 40 percent maximum rate, so your wealth can be significantly eroded if you take no steps… Read more »
The federal estate tax exemption or exclusion is the amount that can be transferred after you pass away before the estate tax would be applied. You do not have to use any of this exclusion to leave tax-free bequests to your spouse, because there is an unlimited marital deduction. However, to use the unlimited marital… Read more »
Accumulating wealth is a fantastic thing, but you have to be vigilant about preserving the wealth that you have been able to earn so that your loved ones can benefit from your good decision-making. There is a federal estate tax that can significantly erode the resources that you intend to pass along to your family… Read more »
A living trust is an estate planning tool that can provide numerous different benefits that you would not receive if you use a last will as the centerpiece of your estate plan. For one thing, if you use a will, you would be leaving lump sum inheritances to your heirs. If you have spendthrifts in… Read more »
Sometimes you make assumptions with regard to the things that are important to people, but in the real world, you find that your assumptions are mistaken. This can enter the picture when it comes to estate planning. A recent article in Forbes is quite enlightening on this level. An estate planning attorney who is a… Read more »
Some people seek out an estate planning lawyer not because they want to create an estate plan, but because they want to challenge an estate planning tool or decision by beginning litigation. The litigation process in estate planning is very similar to other forms of litigation in that it involves lawsuits, hearings, and settlement negotiations…. Read more »
Hiring an estate planning attorney in Dallas, Texas to get your affairs in order is always a good thing, but even the best plan can sometimes result in litigation. Whether you have to file a lawsuit or are being sued by someone else, estate litigation can result from almost any situation. Though there are a lot… Read more »
