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The legislature votes to raise the state estate tax exemption over the objection of the governor. Only 18 states and the District of Columbia currently have an estate tax or inheritance tax. Minnesota, which is one of the states, recently voted to raise the state’s estate tax exemption, according to... Continue reading
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The City’s tax plan will meet the federal plan in 2018. Washington D.C. has followed the trend of some states and reduced their estate taxes. It was done, in part, out of fear that older wealthy people will move to other states that do not have the tax at all,... Continue reading
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Dual incomes and no children does not rule out estate planning. Couples sometimes referred to as "Dual-income no children" or "DINKs" for short, often believe they do not need to do any estate planning. However, they are wrong, according to Wealth Management in "DINKs Need Estate Planning Too." Couples, where... Continue reading
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Number of people who died from Alzheimer’s disease increased 54% in 2014. A longer lifespan and the large Baby Boomer generation are the likely causes of the 54% increase in the number of people who died from Alzheimer’s disease in 2014 compared to 1999, according to Reuters in "U.S. Alzheimer's... Continue reading
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If older members of a family pass on wealth, younger family members often have a more secure retirement. A new study suggests an important factor between those who retire well and those who do not, is actually whether they receive help from older family members by way of inheritance, according... Continue reading
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Pain and suffering may not be real reason behind the choice. A new study suggests the terms of the debate over assisted suicide may be changing, according to the Washington Post in "It's not pain by 'existential distress' that leads people to assisted suicide, study suggests." It has commonly been... Continue reading
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The Heirs of the Baby Boomer generation may not receive all of the wealth. Baby Boomers who have wealth, hope it will go to their children and grandchildren. However, it appears that not enough of the generation have taken the steps necessary to ensure that their wealth passes on as... Continue reading
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You can update your will to reflect tax changes or the court may do it for you. When tax laws change, it may be necessary to change your will, according to Wealth Management in "Reforming a Will for Tax Savings." Wills are not necessarily set in stone after someone passes... Continue reading
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Succession and estate plans are needed in order to keep the farm in operation. If a farmer wants the farm to keep operating after passing, a detailed plan is needed, according to the Wills, Trusts & Estates Prof Blog in "I'd Bet the Farm on It!" When some people think... Continue reading
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Finding the balance between your children knowing how much they will inherit and letting them accomplish things on their own, can be a challenge. If parents have money and plan to pass it on to their children, it is important to let them know about the plans without changing their... Continue reading
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Mistake by judge in creating her estate plan, could have caused major battle in family. It appears that a New York judge who passed away recently, made a big mistake in her estate plan. However, the family is working it out amicably, according to the New York Post in "Judge... Continue reading
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Former Fox News chairman passes away, while facing sexual harassment allegations. Roger Ailes, former chairman of Fox News, recently passed away but that does end the legal troubles, according to The Cut in "What Will Happen to the Sexual-Harassment Lawsuits Against Roger Ailes?" Fox News has faced a series of... Continue reading
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Michael Jackson's life is featured in some soon-to-be released movies. However, images and music not authorized by the estate. Lifetime and Netflix will be releasing films about Michael Jackson soon but the films won’t include his music, according to TMZ in "Michael Jackson Estate Hey Lifetime & Netflix ... Make... Continue reading
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Genetic testing is not expensive and can help in decisions on the need for insurance. A person’s decision on whether to pay for long-term health insurance can be influenced by tests that determine the likelihood of the necessity of the need for it, according to The New York Times in... Continue reading
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Minnesota senator steps into fray and has man declared not dead after 29 years on the list. An error made 29 years ago that erroneously listed a person as dead, has been corrected but not without the help of a U.S. senator, according to CBS News in "Living man declared... Continue reading
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The common belief for an increase in the divorce rate is empty nest syndrome. However, that might not be the cause. Research is suggesting that empty nest syndrome is not the major reason for an increase in the divorce rate for people over 50, according to the Institute for Family... Continue reading
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Doctor plans human head transplant and projects that brain transplants may be available within a few years. Italian doctor Sergio Canavero believes cryogenics will make head transplants and brain transplants possible in the near future, according to the Daily Mail in "Frozen brains will be 'woken up' and placed in... Continue reading
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The political system is going through major changes and it is difficult to know exactly what is going on. There are many revelations arising these days in the federal political arena as President Donald Trump deals with his agenda, fake news reports, Republicans and the Democrat party still reeling from... Continue reading
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Wealthy people can use their assets to fund research for rare diseases. However, problems can arise. Funding research has always been a challenge, especially if the disease is rare and does not come easily to the public’s attention. However, in today’s world, some wealthy people with family members who have... Continue reading
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Ethical concerns surface in a Louisiana estate case. Members of a Louisiana family were surprised, when they learned that an executive director of a council on aging had been named trustee of a relative’s estate and lawsuits followed, according to WRBZ2 in "Family claims 95-year-old swindled by Council on Aging... Continue reading
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What is the best way to protect an inheritance for children from a previous marriage? There are numerous ways to protect an inheritance for children from a previous marriage, according to the Wills, Trusts & Estates Prof Blog in "Protecting Your Children's Inheritance After Remarriage." If you pass away without... Continue reading
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Your estate plan may be the best way to preserve a collection that took a lifetime to complete. Children often do not share the passions and interests of their parents. This can create a problem for those collectors who fear their collection will be forgotten and broken up after they... Continue reading
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Technology creates the need for celebrities to plan how they want their fame handled after they pass away. Computers can now be used to make it appear that a deceased celebrity is alive and acting in entirely new movies and television shows. However, that creates a new need when creating... Continue reading
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Adoption can be used for different reasons in different countries, depending on the laws. Japan has an inheritance tax but many Japanese have found a way to limit it through adoption, according to the Library of Congress in "Many Adoptions in Japan are Not About Raising Children." Because people have... Continue reading
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Social entitlement programs enacted in the U.S. decades ago, have reduced elderly poverty. However, it appears that the wealthy are benefitting more than the poor. White Americans who are the least well-off financially are on average beginning to live shorter lives, while wealthier Americans are now seeing an increase in... Continue reading