Power of Attorney
Power of Attorney
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Durable Powers of Attorney for Property: Uses and Abuses
A Durable power of attorney for property (POAFP) is a very useful and essential financial and estate planning device.
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Planning For Incapacity Part 1: The Power of Attorney
Planning For Incapacity Part 1: The Power of Attorney While no one wants to think about it, becoming incapacitated during your lifetime is not an unlikely event.
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The major benefit of the health care proxy is that it prevents conflicts between relatives of an individual when the individual can no longer make decisions.
Fiduciary
Fiduciary
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Beneficiary and Fiduciary Liability for Income, Gift and Estate Taxes
It can be either a blessing or a curse to be appointed as the Personal Representative of an estate or Trustee of a trust (collectively a “Fiduciary”). One of the most over looked aspects of the job...
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Beneficiary and Fiduciary Liability: Part Two
While the IRS may pursue collection of an estate tax deficiency from the beneficiaries, the Fiduciary will only retain a right of subrogation if the IRS elects to pursue collection of the tax def
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Beneficiary and Fiduciary Liability: Part Three
Every estate and trust beneficiary (heir, legatee, and devisee) must be appraised of their potential for personal liability for unpaid estate taxes under...
Estate Taxes
Estate Taxes
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Leaving Assets to Your Loved Ones Tax-Free
Few of us will ever need sophisticated estate planning strategies. As of 2013, each couple can gift up to $10.5 million dollars tax-free.
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Estate tax planning is one of the most important things the owner of an estate can do to preserve as much of his/her assets and wealth as possible for the heirs and beneficiaries of the estate. Without proper estate tax planning, the Internal Revenue Service (IRS) can take a bigger portion of any estate there by leaving less for the intended heirs.
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While the options for protecting assets from taxation are becoming increasingly limited, it is still possible to prevent the IRS from becoming the main beneficiary of your estate.