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Tag: estate-tax

  • How to Avoid Trust Disputes – Protecting Your Family’s Inheritance

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    1. Dolly Parton is known for her philanthropy and has valuable lessons to teach about doing good. 2. Winning a money judgment in court entitles a person to a specific amount of money, but it doesn’t immediately provide funds. 3. Non-citizens in the US do not enjoy all the tax benefits that US citizens do,…

  • “A Guide to Writing Wills for Adult Children in Connecticut”

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    1. Dolly Parton is known for her philanthropy and has valuable lessons to teach about doing good. 2. After winning a money judgment in a lawsuit, it’s important to know what steps to take to actually receive the funds. 3. U.S. citizens and non-citizens are subject to different tax laws, which can impact estate planning…

  • Important Factors in Setting Up a Trust

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    1. Dolly Parton is known for her philanthropy and has lessons to teach about doing good. 2. Winning a money judgment in litigation does not automatically provide funds, and recipients must take further steps to collect. 3. U.S. citizens receive certain tax benefits throughout their lives and even upon their death, while non-citizens do not…

  • Picking Someone to Manage Your Trust: What You Need to Know

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    1. Dolly Parton is known for her philanthropic efforts and has a lot to teach about giving back to the community. 2. Winning a money judgment in court doesn’t automatically provide the funds, and there are additional steps to take to actually receive the money. 3. Non-citizens in the US do not enjoy all the…

  • Choosing the Right Trust for Your Inheritance: Revocable vs. Irrevocable Trusts

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    – Revocable trusts offer control and flexibility as they can be changed or revoked during the grantor’s lifetime. They also help avoid probate and ensure privacy and uninterrupted asset management if the grantor is incapacitated. However, they are part of the taxable estate and may not be suitable for certain assets. – Irrevocable trusts provide…

  • “Choosing the Best Location for Your Business”

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    – Dolly Parton is known for her philanthropy and has lessons to teach about doing good. – After winning a money judgment in court, it’s important to know how to actually receive the funds. – Non-citizens in the US do not enjoy all the tax benefits that US citizens do, especially when it comes to…

  • Protecting Your Assets in Divorce: A Guide for High School Students

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    – Dolly Parton is known for her philanthropy and has important lessons to teach about giving back to others. – After winning a money judgment in court, individuals might wonder what steps they need to take next to actually receive the funds. – Non-citizens in the U.S. do not receive the same tax benefits as…

  • Lady Bird Deed: A Special Estate Planning Tool in Florida

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    – Lady Bird Deeds allow grantors to retain control and authority over their property during their lifetime, including the ability to sell, mortgage, or revoke the deed without beneficiary permission. – The automatic transfer of property to designated beneficiaries upon the grantor’s death, without the need for probate, is a significant advantage of Lady Bird…

  • Different Types of Trusts to Protect Your Assets

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    – Dolly Parton is known for her philanthropy and has valuable lessons to teach about doing good. – It is important to understand what to do after receiving a money judgment in a litigation case. – Non-citizens in the US have different estate planning considerations compared to US citizens. – Discussing estate plans with loved…

  • The Benefits of Life Insurance for Your Estate Planning

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    – Dolly Parton is a well-known philanthropist, and her actions can serve as an inspiration for others to do good. – Obtaining a money judgment in litigation does not automatically provide funds, and individuals need to take further steps to collect the amount owed. – Non-citizens in the US do not receive the same tax…

  • Minimizing Employer Liability: Five Steps to Protect Your Business

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    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 know how to actually receive the funds. 3. Non-citizens in the US do not have the same tax benefits and estate planning considerations as US citizens. 1.…

  • Maximize Your IRA Savings by Donating to Charity Instead of Paying Taxes

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    – Individuals aged 70 ½ or older who are taking distributions from a traditional IRA can direct up to $100,000 per year of their IRA distributions to charity. – These qualified charitable distributions (QCDs) count toward required minimum distributions (RMDs) but do not increase adjusted gross income (AGI) or generate a tax bill. – Keeping…

  • Understanding Intellectual Property Rights for Business Owners

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    1. Dolly Parton is known for her philanthropy and has important lessons to teach about doing good. 2. Winning a money judgment in a court case does not automatically provide funds, and there are steps that need to be taken to collect the money. 3. Non-citizens in the U.S. do not receive the same tax…

  • How High School Students Can Start a Tax-Exempt Organization

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    1. Dolly Parton is known for her philanthropy and has valuable lessons to teach about giving back. 2. Winning a court case and receiving a money judgment does not automatically provide funds, and there are steps to take to actually collect the money. 3. Non-citizens in the U.S. do not receive all the same tax…

  • Should Your Children Control Their Own Trusts?

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    – Dolly Parton is known for her philanthropy and has lessons to teach about doing good – After winning a money judgment in a court case, the next step is to collect the funds – Non-citizens in the US do not enjoy all the tax benefits and protections that citizens do – Estate planning is…

  • “Is Your Business Contract Keeping You Safe?”

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    1. Dolly Parton is known for her philanthropy, and her passion for doing good can inspire others. 2. Winning a money judgment in litigation does not automatically provide funds, and recipients must take additional steps to collect. 3. U.S. citizens receive tax benefits throughout their lives and even upon their death, while non-citizens do not…

  • Challenging the IRS: Steps to Appeal a Tax Decision

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    1. Dolly Parton is known for her philanthropy and generosity, setting an example for others to follow. 2. After winning a money judgment in court, it’s important to understand that the judgment itself does not provide funds and additional steps may be required to collect the money. 3. Non-citizens in the US may not receive…

  • Planning for the Future: How to Prepare Your Business for Ownership Changes

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    1. Dolly Parton is known for her philanthropy and has valuable lessons to teach about doing good. 2. After winning a money judgment in a case, individuals need to take steps to actually receive the funds. 3. Non-citizens in the US do not enjoy all the same tax benefits as citizens, particularly in estate planning.…

  • Ending Your Trust: A Guide for High School Students

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    1. Dolly Parton is known for her philanthropy and has important 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 in the US do not receive all of the same tax benefits as citizens, particularly…

  • Changes in Taxes for Gifts, Inheritances, and Trusts in 2024

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    – The annual gift tax exclusion amount for 2024 is $18,000 per recipient, allowing individuals to make tax-free gifts of this amount to an unlimited number of recipients. – The lifetime gift and estate tax exemption amount for 2024 is $13.61 million, meaning that transfers up to this amount do not require a tax payment.…

  • Estate Planning for Non-US Citizens

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    1. Dolly Parton is known for her philanthropy and has important lessons to teach about doing good. 2. Winning a money judgment in litigation doesn’t automatically provide funds, and there are certain steps that need to be taken to collect the money owed. 3. Estate planning is important for every adult, allowing them to ensure…

  • Protect Your Assets with a Trust: How We Can Help You Set It Up

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    1. Dolly Parton is known for her philanthropy and has valuable lessons to teach about doing good. 2. Winning a money judgment in litigation doesn’t automatically provide funds, and there are steps to take to collect the money. 3. Non-citizens in the US do not receive all the tax benefits that citizens do, especially in…

  • “Understanding Postnuptial Agreements”

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    1. Dolly Parton is a philanthropic celebrity who has lessons to teach about giving back. 2. Winning a money judgment in litigation doesn’t automatically provide funds, and there are steps to take to actually receive the money. 3. Non-citizens in the US are subject to different tax laws and may not enjoy all the benefits…

  • Understanding Tax Exemption with Smith Legacy Law

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    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, 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, particularly when it comes to estate planning.…