It is quite common to see young couples with children not having a will or financial and healthcare powers of attorney. There is no doubt that it is not a good feeling to prepare for incapacities or death; but having a will or trust will ultimately lessen your worries regarding children, spouse and property should anything happen to you.
A will allows a person to choose a guardian for his child or name a child or spouse as the heir to their property. A trust is something you can set up so that your children and spouse are taken care of should anything happen to you. More...
Elderly And And Asset Protection
We find more and more people these days taking advantage of the elderly by neglecting them or mistreating them either physically or psychologically. Financial abuse by family members seeking a personal advantage is an insidious abuse of the confidential and trusting relationship.More...
Difference Between Death Tax And Inheritance Tax
The death tax also known as estate tax in the United States is a tax imposed on the transfer of the ‘taxable estate” of a deceased person, whether the property is transferred via a will or according to the state laws. Inheritance tax on the other hand is the tax on the property inherited by the beneficiary of the property. More...
What Is Estate Planning ?
Estate planning involves making plans for the transfer of your assets after death. Estate refers to all the property owned which includes cash, clothes, jewelry, cars, houses, land, retirement, investments etc. Estate planning involves making sure that most of the estate is transferred to the beneficiaries, paying the least amount of taxes on the estate and assigning guardians for minor children, if any. More...
What Is Inheritance Tax ?
Inheritance tax, estate tax and death duty are the names given to various taxes which arise on the death of an individual. It is a tax on the estate, or total value of the property and money of a person who has died. The total value of the property is first established to determine the quantum of inheritance tax. More...
How Much Does It Cost To Setup A Living Trust ?
Living trusts have become one of the most common estate planning tools today having gained increasing popularity in the last two decades. A living trust is one that is set up in the life time of an individual. The individual can consolidate his or her assets under one document. The document will contain names of the beneficiaries of the trust and how the assets that belong to the trust are to be disposed off. More...
Importance Of Living Wills And Record Standards
According to statistics more than 70 percent of Americans die without making plans for their death. They do not take the time out to draw up a will and they do not take any time out to do any estate planning. The reason for this is very simple. People do not want to think about death and dying. They rather pretend that this is something that will not happen to them. More...
|
