Thursday, March 29, 2018

A-Z Estate Planning

A- "A" stands for ASSETS that will be in your estate at the time of your death.  Effective estate planning can help eliminate the amount of tax owed on these ASSETS if that is your goal.

B-"B" stands for BASIS, or what you paid for an asset in your estate, minus expenses you incurred in obtaining the asset. Proper estate planning can take advantage of a bump-up in BASIS and help taxes owed by your beneficiaries.

C- "C" stands for CHILDREN and /or CHARITY. There are numerous ways to leave your estate to your CHILDREN to protect them from creditors (a Bad "C" word) or, perhaps, from inheriting too much too soon. Gifts to CHARITY can be an effective tool to save on taxes.

To Be Continued.....................

No comments:

Post a Comment

Movie to Watch

If you get tired of the same old action hero or cartoon character movies, why not look into viewing the best courtroom legal drama ever made...