Is Estate Tax Exemption Going to Change? – Annapolis and Towson Estate Planning
The new numbers mean that wealthy taxpayers can transfer more to their heirs tax free during life—or at death. A lot more.
Where Do You Score on Estate Planning Checklist? – Annapolis and Towson Estate Planning
Every so often, it’s smart to methodically go through your estate planning documents and see if any tweaks are needed. Here’s a checklist to guide you through that mission.
Changes to Estate Tax Laws? – Annapolis and Towson Estate Planning
Drafting a last will and testament can help to ensure that your assets are distributed according to your wishes after you pass away. You can also use your will to name a legal guardian for minor children or choose an executor for your estate.
What Happens If I Don’t Have an Estate Plan? – Annapolis and Towson Estate Planning
Estate planning attorneys will agree that it is better to die with a properly drafted will, than to die without one. If you don’t have one, consider getting one.
What Exactly Is the Estate Tax? – Annapolis and Towson Estate Planning
The estate tax in the United States is a tax on your right to transfer property to other individuals upon your death, according to the IRS. In other words, when you die, the U.S. government might be entitled to a portion of your assets before the remainder can be passed to your heirs. Not all inherited assets are subject to the estate tax. In fact, the U.S. estate tax only affects the wealthiest households.
A 2020 Checklist for an Estate Plan – Annapolis and Towson Estate Planning
For many people, what comes to mind when they think about estate planning, is how much money they will be able to save in taxes as assets are passed from one generation to the next. While that is certainly an important part of any plan, there is much more to consider so that a person and his or her family are protected for the future.
Is There Estate Tax on the Property I Inherited? – Annapolis and Towson Estate Planning
Real estate is one of the most common types of assets that pass from one generation to the next through inheritance. Whether you expect to inherit property or plan to leave some behind, it pays to be aware of the basic tax implications.
What Does an Estate Planning Attorney Really Do? – Annapolis and Towson Estate Planning
Estate planning is a systematic process, which involves getting your personal and financial goods for the time, if you pass away or become mentally ill. It is also known as last will, and almost everyone does this planning for their family.
How is My Retirement Income Taxed? – Annapolis and Towson Estate Planning
Where you retire can have a big impact on your tax bills for Social Security, pensions, IRAs, 401(k)s and other income.
How Can Life Insurance Help My Estate Plan? – Annapolis and Towson Estate Planning
As people decide what they should do to benefit their spouses and families, considering life insurance in retirement can help protect, build and transfer wealth in one of the simplest ways possible.