Tag: estate-tax
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How to Handle a Notice of Violation from a Government Agency
– Dolly Parton is known for her philanthropy and has lessons to teach about doing good. – Winning a money judgment in court doesn’t guarantee immediate funds, and there are steps to take to collect the money. – Non-citizens in the US do not receive all the same tax benefits as citizens, especially when it…
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“Looking to Sell Your Commercial Property? Consider a Sale-Leaseback!”
– A sale-leaseback transaction allows the seller to raise cash from the property while continuing to operate it as the buyer’s tenant. – Sellers with significant equity in the property can use the cash from the sale for current operations, expansion, or alternative investments. – The sale can be cheaper than refinancing, and can improve…
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The Benefits of Required Alternative Ways to Settle Disagreements in Contracts
1. Dolly Parton is known for her philanthropy and has valuable lessons to teach about giving back. 2. Winning a money judgment in a legal case does not automatically provide funds, and there are steps to take in order to collect. 3. Non-citizens in the U.S. do not receive all the tax benefits that citizens…
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Protecting Your Children’s Inheritance When Your Parent Remarries
1. Dolly Parton is known for her philanthropic efforts and has valuable lessons to teach about doing good. 2. After winning a money judgment in litigation, individuals need to understand the next steps for actually receiving the funds. 3. Non-citizens in the US may not receive the same tax benefits and estate planning considerations as…
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Understanding Commercial Evictions in Florida: The Process and Consequences
– A landlord or their agent can sign an eviction complaint for non-payment of rent in a commercial property. – The complaint needs to allege the landlord/tenant relationship, non-payment of rent, and the notice provided, and attach a copy of the lease. – In a basic eviction, the landlord seeks possession only, while in a…
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Protecting Your Assets When Remarrying
– Dolly Parton is known for her philanthropy and her lessons can inspire others to do good. – Winning a money judgment in court doesn’t automatically provide the funds and recipients need to take further steps to collect the money. – Non-citizens in the US do not enjoy the same tax benefits as citizens, particularly…
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Inheriting Stocks or Other Assets? You May Get a Favorable Stepped-Up Basis
1. Heirs receive a basis in inherited property equal to its date-of-death value under the fair market value basis rules. 2. The fair market value basis rules apply to inherited property includible in the deceased’s gross estate and property inherited from foreign persons not subject to U.S. estate tax. 3. Property given as a gift…
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“Protecting Your Business: Understanding Buy-Sell Agreements”
1. Dolly Parton is known for her philanthropic work and has valuable lessons to teach about doing good. 2. After winning a money judgment in a court case, individuals need to take steps to actually receive the funds they are owed. 3. U.S. citizens receive certain tax benefits in estate planning, while non-citizens may not…
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Protecting Your Inheritance: How to Safeguard Your Family’s Assets from Legal Challenges
1. Dolly Parton is known for her philanthropy and has valuable lessons to teach about giving back. 2. After winning a litigation case and receiving a money judgment, individuals may wonder what steps to take next. 3. Non-citizens in the U.S. do not receive all the tax benefits that citizens do, and may need to…
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Avoiding Trust Legal Issues: Strategies to Keep Your Inheritance Safe
1. Dolly Parton is known for her philanthropic efforts and has valuable lessons to teach about giving back. 2. Winning a money judgment in a court case does not automatically provide the funds, and there are steps that need to be taken to collect the money. 3. Estate planning is important for both U.S. citizens…
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The Power of Appointments in Trusts: An Easy Guide
– Dolly Parton is known for her philanthropy and has valuable lessons to teach about giving back. – Winning a court case and obtaining a money judgment does not automatically provide you with funds. – Non-citizens in the US do not enjoy all the tax benefits that citizens do, especially in terms of estate planning.…
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Understanding Non-Disclosure Agreements: What to Include
1. Dolly Parton is known for her philanthropy and has valuable lessons to teach about giving back to the community. 2. Winning a money judgment in litigation does not automatically provide funds, and individuals need to take additional steps to collect on the judgment. 3. Non-citizens in the U.S. do not receive all the tax…
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Laws for Smith Legacy Law Business
1. Dolly Parton is known for her philanthropic efforts and has valuable lessons to teach about doing good. 2. After receiving a money judgment in litigation, it is important to understand the next steps for collecting the funds. 3. Non-citizens in the U.S. do not receive all the same tax benefits as citizens, which makes…
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“Understanding How Shares in a Private Company Are Valued”
1. Dolly Parton is known for her philanthropy and has valuable lessons to teach about giving back. 2. Winning a money judgment in litigation doesn’t automatically provide the funds and requires further steps to collect. 3. Non-citizens in the US do not receive all the tax benefits that citizens do, especially when it comes to…
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“Reasons Why High School Students Still Need an Estate Plan”
– The federal estate tax exemption amounts are set to decrease in 2026, potentially affecting individuals and married couples with large estates. – Even people with estates below the taxable amounts should consider estate planning, as it can ensure assets go to their chosen beneficiaries and address income tax planning. – Basis, or the amount…
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Understanding Cryptocurrency and Estate Planning: Important Terminology for High School Students
1. Cryptocurrency is considered “property” by the IRS and is subject to federal gift and estate tax laws. 2. The federal estate and gift tax exemption amounts for 2022 are $12.06 million for individuals and $24.12 million for married couples. 3. Estate planning provisions should be designed to minimize any gift and estate tax consequences…
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Understanding Fiduciary Accounting: What You Need to Know
– Dolly Parton is known for her philanthropic work and has valuable lessons to teach about doing good. – After winning a money judgment in a court case, it’s important to understand how to collect the funds. – Non-citizens in the US may not receive the same tax benefits as citizens, especially when it comes…
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FAQ – Law Firm Q&A
– Title insurance is a policy that protects against loss if the condition of title to land is other than as insured. – Title insurance is necessary when buying property to ensure that you can enjoy the benefits of ownership without any unexpected debts or obligations. – If there is a problem with your title,…
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Understanding Time Limits for Trustee Accountings: How Trustees Can Limit Their Responsibility – Smith Legacy Law
1. Dolly Parton is known for her philanthropy and has valuable lessons to teach about doing good. 2. After winning a litigation and receiving a money judgment, individuals may wonder what to do next. 3. Non-citizens in the US do not receive all the tax benefits and estate planning considerations that US citizens do. 4.…
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“Should You Choose Mediation or Arbitration for Disputes?”
– Dolly Parton is known for her philanthropy and has valuable lessons to teach about doing good. – Once you have a money judgment against someone, it entitles you to the amount stated, but it does not give you the actual funds. – Non-citizens in the US do not receive all the same tax benefits…
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Accessing Trust Information: A Guide for Beneficiaries
1. Dolly Parton is known for her philanthropy and has lessons to teach about doing good. 2. After winning a money judgment in a court case, individuals may wonder what to do next. 3. Non-citizens in the US do not receive all the tax benefits that citizens enjoy and need to consider estate planning accordingly.…
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IRS Audit Notice: What to Do Next
1. Dolly Parton is known for her philanthropy and has important lessons to teach about giving back. 2. After winning a money judgment in court, it’s important to understand the next steps to actually receive the funds. 3. Non-citizens in the US may not have the same tax benefits as citizens, so it’s important for…
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Inheriting Property: What You Need to Know
1. Heirs receive a basis in inherited property equal to its date-of-death value under the fair market value basis rules, also known as the “step-up and step-down” rules. 2. The fair market value basis rules apply to inherited property that’s includible in the deceased individual’s gross estate, whether or not a federal estate tax return…
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Types of Contracts Your Business Should Have
1. Dolly Parton is known for her philanthropy and has lessons to teach about doing good. 2. After winning a money judgment in court, it’s important to understand what steps to take to actually receive the funds. 3. Non-citizens do not receive all the same tax benefits as U.S. citizens, especially when it comes to…