Estate Planning Taxation

The Tax Incentives of Life Insurance

One of the most important aspects of my job as a Financial Representative is helping my clients and their families gain financial security in a tax efficient manner. With the return of the Estate Tax looming in 2011 it is more important than ever for people to address their estate planning needs. The 2011 Budget calls for a $1 million exemption level and a top rate of 55% on taxable estates. One important tool I recommend to all my clients as a means to counteract this tax in your estate plann...

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Matthew Kingsley 8/27/2010 8:32:00 AM Comments(0)

Lady Bird Deeds- A Simple Way to Avoid Probate

Are you concerned about keeping your home outside of probate when you pass away? If you are like most people, you don't like the idea of tying up your property in legal limbo for months before your beneficiaries can take possession of or sell your home. A Lady Bird Deed conveys the property to your beneficiaries but you have the right to remain in your home for the rest of your life. You can also sell the home at any time without having to notify or obtain the consent of your beneficiaries. A ...

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Debra G. Simms 6/1/2010 1:09:00 PM Comments(1)

New Estate Tax Rules January 1st

NEW ESTATE TAX RULE ON THE HORIZON The federal estate tax is scheduled to return with a vengeance on Jan. 1, 2011, imposing a tax of up to 55% on estates valued at more than $1 million. A $1 million exemption would affect a lot of families who do not consider themselves “wealthy”. "If you have a home, an IRA or 401(k) retirement account, life insurance and some other savings you can get to $1 million pretty easily.The roots of the estate tax disarray date back to 2001, when Congres...

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Debra G. Simms 2/7/2010 10:18:00 AM Comments(0)