Federal estate tax applies to the transfer of property at death. The estate of a person who died is liable for taxes on the estate. Taxpayers should use Form 706 U.S. Estate Tax Return to file Estat...
A CONTRACT is defined from the Latin word contractus. An agreement between two or more parties, especially one that is written and enforceable by "law." To enter into by contract; establish or sett...
PART 2: ASSET PROTECTION: GENERAL/LIMITED PARTNERSHIP, CORP CHAPTER "C"/CHAPTER "S", LLC, TRUSTSTHE CONCEPT OF ASSET PROTECTION includes the possibility of placing title in certain assets in the na...
PART 3: ASSET PROTECTION: GENERAL/LIMITED PARTNERSHIP, CORP CHAPTER "C"/CHAPTER "S", LLC, TRUSTSCORPORATIONS (Standard Corporation under Chapter "C")The corporation is a legal entity created under ...
GRANTOR TRUST - WHAT IS IT?- The purpose of a trust is to create an "artificial legal person" to protect, hold, and manage your private wealth for the benefit of your heirs.- As in any contract, so...
Society is currently moving through a transition from a community whose wealth is based in tangible goods, such as the means of production, to a community whose true wealth lies in intangible forms...
Many couples have executed an A-B "credit shelter" trust in order to preserve estate tax exemptions for both spouses. This can potentially benefit the heirs by saving nearly one million dollars in inh...
Most of the concepts and strategies you read in this tax column are really answers to questions asked (or concerns, problems or fears told to us) by readers who called our office. Also tossed into the...
There are many hard parts about owning property and other things that you have to figure out before you know what is going to be a good investment for you and what is not. One of the things that...
For a lot individuals, the thought of paying estate taxes is not what they assumed it was. While the common idea is that an estate tax is a tax only the very rich or wealthy will have to be concerned ...