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Many seniors in the U.S. fall victim to living trust scammers who scare and intimidate their victims into purchasing worthless, unnecessary trusts. Seniors need to know what to look out for to avoid being victims. Going through probate can be burdensome on an estate. The estate tax can devastate the wealth of estates. Both of […]
Tag Archives: Estate Tax
The last proposed budget of Barack Obama's presidency contains several changes to the tax codes important to estate planning. President Obama has submitted his last budget proposal to Congress. It contains many of the same changes to the tax code he has previously attempted to implement. While there appears to be little chance the Republican […]
In an effort to reduce their estate tax burdens, many wealthy families are tempted to undervalue their prized collections, such as art. The IRS, however, makes its own valuations. As with other taxes, most people seek ways to pay as little in estate taxes as possible. However, there is only so much wiggle room available […]
If your spouse passed away in the last three years, the IRS is offering a potential estate tax break for your estate. However, you need to act quickly if you want to take advantage of it. One of the newer and better provisions in tax law is that you can take advantage of any portion […]