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. Only large estates are taxed by the Internal Revenue Service (currently estates having a value at the date of death exceeding…
When dealing with legal matters, it is of utmost importance to grasp the nuanced distinction between lawyers and attorneys. This understanding becomes particularly critical when navigating intricate and multifaceted issues such as Chapter 7, Chapter 11, and Chapter 13 bankruptcies. These types of bankruptcies each represent different approaches to debt relief and financial restructuring under…
Pennsylvania Inheritance Tax …ESTATE ADMINISTRATION Pennsylvania imposes a tax on assets passing to a beneficiary. The rate of the tax depends on the relationship of the beneficiary to the decedent (the person who has died). This type of tax differs from an estate tax such as that imposed by the Internal Revenue Service on certain…
Eases the Burden of Overwhelming Financial Debt with Chapter 13 Bankruptcy The recession has plagued many Americans, and it doesn’t seem like it will be getting better anytime soon. Countless people find themselves either without jobs or with jobs that pay too little, relying on dwindling savings or credit cards to simply pay bills. If…
Are you currently experiencing the overwhelming burden of mounting debt, finding it increasingly challenging to keep up with your loan payments? We genuinely empathize with the emotional and financial strain that this situation can bring. We want you to know that you are not alone in facing these difficulties. When bankruptcy starts to feel like…
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