Estate Planning: Death Valuation, Fair Market Value

The fair market value (what a buyer is willing to pay a seller) of an estate’s assets is the value at which those assets are included in the gross estate for tax purposes.  This amount is determined on one of two dates:  the date of death or the alternate valuation date.  The alternative valuation date … Continue reading Estate Planning: Death Valuation, Fair Market Value

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Estate Planning: Assets, Estates & Transfers

When planning an estate, the process begins with digging deep into fact finding of finances.  Reviewing assets and understanding the best ways to transfer assets is key in ensuring that family members will not have to deal with the “red tape” of probate court, especially if one passes without a will in place. Asset Review … Continue reading Estate Planning: Assets, Estates & Transfers

Estate Planning: Assets & Finances

When planning an estate, the process begins with digging deep into fact finding of finances.  Reviewing assets and understanding the best ways to transfer assets is key in ensuring that family members will not have to deal with the “red tape” of probate court, especially if one passes without a will in place. Asset Review … Continue reading Estate Planning: Assets & Finances

Estate Planning: Per Stirpes, Per Capita, Probate & More Definitions

Estate planning can become complicated and confusing, especially when discussing terms such as per capita and per stirpes.  However, how a person wants his or her estate divided after they have passed can be dictated based on these terms. Per Stirpes A legal Latin term, per stirpes literally means “by branch” and refers to the … Continue reading Estate Planning: Per Stirpes, Per Capita, Probate & More Definitions

The Importance of Having a Will

Estate planning begins with a will.   Wills are a way for those who have passed on to have their voice heard and their final wishes carried out.  Does everyone need a will?  Yes.  Almost every individual, regardless of their net worth, needs a will.  In addition, having a will means that a person decides who … Continue reading The Importance of Having a Will

Estate Growth and Shrinkage

When a person’s assets accumulate over time, one can expect to see those assets grow as they age.  However, after death, a large chunk of those same assets can end up being eaten away by government taxes, fees, and other administrative costs.  This decrease can be a significant portion of a person’s estate and is … Continue reading Estate Growth and Shrinkage

Estate Planning: How to Keep More of Your Money

Planning what to leave heirs when a person dies is not something that can be done in one day.  Rather, estate planning requires knowledge, thought, and ongoing protection of assets in order to reach the goals of wealth distribution for future generations. Estate Planning Estate planning involves the process of accumulating, preserving, and distributing assets … Continue reading Estate Planning: How to Keep More of Your Money