Posts Tagged 'estate planning law'

Why Do You Get Different Answers From Different Attorneys and Lawyers?

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Why Do You Get Different Answers From Different Attorneys and Lawyers?

I have clients come to me all the time and they’ve gotten one story from one attorney and another story from a different attorney and they don’t know which one to believe or what’s happening. What’s happening is a lawyer only has so many tools. A carpenter only has so many tools. Here’s the question: Does a hammer drive a nail in? or does it take it out? Well, it ...

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Estate Planning Taxes

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“Estate planning taxes” do not exist. There is no tax on the process of estate planning. However, if you neglect to set up an estate plan, it will cost you. If you don’t take action, your family will lose money in the form of probate, state estate taxes, and federal estate taxes. None of these is an “estate planning tax,” but they are all very real costs that you can and should avoid.

 

What documents ...

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The Art of Insurance Estate Planning

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Life insurance has always been an estate planning tool. Estate planning, life insurance, wills, and trusts have always gone together like bread and butter.

But, life insurance estate planning techniques have taken a hit since the Obama tax extensions.

Life insurance is sold on three premises.

1) Don’t you love your family, and don’t you want them to be comfortable if you die?

2) You have a large estate and are going to lose a ton of it in estate taxes when you die. ...

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Family Limited Partnership Estate Planning Strategies

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One of the most popular estate planning tools is the family limited partnership. It allows a family to divide up family assets, while allowing Mom and Dad to maintain control. It allows a family to shift income from high tax bracket individuals to lower tax bracket individuals. It is a great asset protection tool. There are many family limited partnership estate planning strategies.

Family Limited Partnership Estate Planning Strategy 1: Division of Family Assets

Families with ...

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The Family Farm Estate Planning Tools

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Family farms present a unique estate planning problem. The family farmers often operate on a thin profit margin (we hope it’s a profit), and yet, they are worth millions of dollars. AKA, they are cash poor and land rich.

Dad needs to continue to operate the farm, but for estate tax reasons it needs to be “divided up” among the kids. Even if there is never an estate tax problem, one or two of the ...

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Estate Planning Checklist

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There are two basic estate planning checklists. One is for the planning you do while you are alive; the other estate planning checklist is the checklist you use after a family member dies. This article will concentrate on the “life” estate planning checklist.

Four Estate Planning Checklist Issues – Issue 1

Testamentary Will

Every estate planning checklist begins with a will. Yes, the will takes affect when you’re dead, ...

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Estate Planning Forms and Documents

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estate planning formsEstate Planning Forms and Documents Can Make A Difference

Good estate planning forms and documents are so important, It can be tricky to get them. Many places will offer you free estate planning forms to get you in. If you get free estate planning forms you will probably get quality comparable to what you pay for them. Because estate planning requires more than one ...

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