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Law Office of Janet L Brewer
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One of the biggest disagreements that families face after the death of a loved one, centers on selling real estate property. Some families actually break up over it, which is a shame. It would be far better for the family to talk about the property before the parents die and work out a plan. Continue reading
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If you are starting to think about estate planning, you may wonder about passing wealth to your children while reducing your taxable estate at the same time. Many people focus on the basics of getting a will and power of attorney in place but do not consider other planning techniques.... Continue reading
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A family investment company can help relatives consolidate wealth and plan for the future. Funding the company also removes money from the family’s estates, potentially reducing tax liability and inheritance issues later. What Is a Family Investment Company? A family investment company, sometimes also called a private investment company, is... Continue reading
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The interaction of foreign tax laws and United States estate tax laws can create unfair treatment for people who have to pay taxes in both countries. Fortunately, in some cases foreign tax credits may apply to reduce tax liability for estates. What Is a Foreign Tax Credit? A foreign tax... Continue reading
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Census Bureau reports 22% of Americans aged 64 to 75 live by themselves. Continue reading
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If you move to another country from the United States, you may need to change your trust or your overall estate plan. You simply cannot count on laws applying to your trust in the same way when you change the place that you live. What Are the Potential Consequences of... Continue reading
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If you move to another country from the United States, you may need to change your will or your overall estate plan. You simply cannot count on laws applying to your will in the same way when you change the place that you live. What Are the Potential Consequences of... Continue reading
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Some countries have succession or forced heirship regimes that can substantially affect U.S. estate planning for people with ties to both countries. First, you will need to understand how forced heirship works, and then understand how it can impact estate planning in the United States. What Is Forced Heirship or... Continue reading
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If you are working on your estate plan, you might see references to defined benefit plans and defined contribution plans in tax documents or when doing research. These names refer to specific types of retirement plans, and it can be important to understand the difference. What Is a Defined Benefit... Continue reading
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If you are planning on making gifts or transferring property to children, you should familiarize yourself with the UGMA and UTMA. These laws allow minors to receive property and have it held by a custodian until they get older. Brief History of the UGMA and UTMA The UGMA, or Uniform... Continue reading
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If you are a United States permanent resident, then you should keep in mind a few key considerations about your estate planning. Permanent residents have many of the same rights as U.S. citizens, and estate planning is no exception. They may have some different estate planning concerns, though, especially when... Continue reading
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How much are you allowed to gift? It depends. The concept of gifting can come up in estate planning. It is, therefore, important to know that one can give as much as they want. However, tax implications can arise, unless you are wary and have good advice, according to The... Continue reading
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It may be time for the stock market rally to come to an end and also time to protect your retirement. Stocks have rebounded since the very tough times of the market crash in 2008, so it might be a good time to consider that the rally is likely to... Continue reading
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When working on your United States estate planning, you may run across the term situs and wonder what it means. Situs of property affects whether the U.S. government assesses estate taxes on it. What Is Situs? Situs means that an item of property is either physically located in the United... Continue reading
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Where do those thousands of dollars’ worth of frequent flyer miles end up when you die? It depends on the airline but your frequent flyers miles may come to an abrupt end when you pass away, according to The Wall Street Journal’s article “A Thorny Inheritance Issue: Frequent-Flier Miles.” Many... Continue reading
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If you own property in two different states, your estate plan needs to account for the property’s locations. Estate planning is affected primarily because your estate may need to open a probate proceeding in more than one state, which can be time-consuming and expensive. Why Does It Matter If You... Continue reading
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Avoid the probate process by implementing a pre-death estate plan. Continue reading
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Many tax issues can arise, and it is helpful to be aware of them. Many issues can arise, if you are the executor of an estate. It can be confusing but Market Watch has a general overview in its article, “How to file a loved one’s taxes after they’ve passed... Continue reading
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There is an order to follow and credit cards are not at the top of the list. Continue reading
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If you do not have a power of attorney, you can face some real challenges. Continue reading
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Your will is really important but then so is your living will. It is helpful to know the difference. Continue reading
Retire from a high-pressure job and then “relax” at work. Continue reading
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Avoiding disputes is a key to successful estate planning. Continue reading
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Stronger regulations? Yes, but always the best tool for the family? No! Continue reading