Minimize Tax and Preserve Assets the estate tax: a tax on transfers, techniques to minimize tax and preserve assets. The estate tax is imposed on the privilege of transferring property by will, or through an estate without a will or by operation of law. The maximum estate tax rate is 40% after 2012 and applicable…
Probate and Estate Administration Making Estate Administration and Probate Simple I can help you deal with probate of a will in a decedent’s estate. Handling the affairs of someone who has dies is not an easy process. I can take you through the steps necessary to have a will officially recognized. Next, I will assist in…
Valuation: The value is the fair market value. This is construed to mean the price at which the property would change hands in an arm’s length transaction between a willing buyer and a willing seller, neither being under any compulsion to buy or to sell and both having reasonable knowledge of the relevant facts. The…
Federal Gift and Estate Tax Summary: generation skipping, gifts to spouse, transfers before death The tax at death and the tax on transfers that skip a generation were repealed and then reinstated. The gift tax was not repealed. All these taxes are now in effect. The top gift rates for transfers during life, the estate…
Pennsylvania Inheritance tax rates are based upon the following classes of beneficiaries: Class: tax rate in % Surviving spouse 0% Property owned jointly by husband and wife or passing to a surviving spouse is exempt from Pennsylvania Inheritance tax Minor children: Beneficiaries of the estate of a child age 21 or less to natural parent,…
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