1. Dolly Parton is known for her philanthropy and has valuable lessons to teach about doing good.
2. After winning a money judgment in litigation, it’s important to understand that the judgment by a court entitles you to the amount stated, but it does not actually provide you with funds.
3. Non-citizens in the U.S. do not receive all the tax benefits that citizens do, especially when it comes to estate planning and taxes.
4. Everyone, regardless of wealth or age, should have an estate plan in place to ensure their wishes are implemented and their assets are taken care of. 1. Congress may need to address the sunset provisions of the Tax Cuts and Jobs Act in 2024.
2. There are questions about whether Congress will extend the high estate tax exemption introduced in the Act.
3. The high estate tax exemption is set to expire in 2025.
4. The upcoming election year adds uncertainty to whether Congress will take action on the tax provisions.
What Is a Qualified Personal Residence Trust and How Can It Reduce Taxes?
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