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As of 2013, there were 600,000 new millionaires reported in the United States. This is the fast growth in millionaires in the country since the early 90s. Most of these millionaires are being sourced by oil and technology. As a result, Dallas has become the home of this record-breaking millionaire growth. In fact, the number… Read more »
The process of estate planning is often thought of as something that is only important for people who have reached an advanced age. We all know that senior citizens are more likely to pass away than their younger counterparts, but in truth, all responsible adults should have an estate plan in place. There have been… Read more »
There are many different things to take into consideration when you are devising your estate plan. What is important for one person may not be important for the next, so you should understand the facts and act in a fully informed manner. Personalized attention is of great value, because your plan should be custom crafted… Read more »
Taxation is a very big factor to take into consideration when you are preparing your assets for future distribution to your heirs. There are taxes on asset transfers in the United States, and these death taxes can erode your wealth considerably as it is being passed on to succeeding generations. The federal estate tax looms… Read more »
Tip 1. Your estate is what you leave behind after you die. Everyone has an estate. Whether you are wealthy, old, young, a parent, single, or anything else, you have, or more specifically will have, an estate. Your estate is simply the collection of possessions, money, and other property you leave behind after you die,… Read more »
When you are planning your estate, passing along resources directly with no strings attached can be perfectly acceptable for some established people on your inheritance list. At the same time, there could be people in the family who could use some guidance. Under these circumstances, you could consider the creation of an incentive trust. With… Read more »
Merry Christmas! Tis the Season of Giving! Estate planning can be viewed in one of two ways. You could look at it as a basic effort to make sure that your assets are distributed in accordance with your wishes and leave it at that. On the other hand, you could take a more comprehensive viewpoint… Read more »
The federal estate tax was established back in 1916. What would you do if you knew that your estate was going to be subject to the estate tax? A logical person would consider lifetime gift giving, and this is exactly what wealthy people did after the estate tax was enacted. Tax minded legislators were not… Read more »
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 »
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 »
