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Kris Koonar's Articles in Estate Planning

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How Can Gifts Help You Reduce Your Estate Taxes? There are many ways to avoid or mitigate estate taxes. Transferring property through gifts is one of them. What Are The Current Tax Rules You Must Consider For Your Estate Planning? No estate tax is payable during 2006, 2007, and 2008 on a descendants estate valued up to $2million. However, estate taxes can chew away a sizable part of the estate after death if effective estate planning steps are not taken in time. Why Is Estate Tax Planning So Important? There are many reasons that make an estate plan very important. When you are unable to take decisions regarding your healthcare due to illness or accident there needs to be someone who can legally take such decisions on your behalf. The Pitfalls Of Insufficient Estate Planning Any one possessed of property is usually aware of the pitfalls of not having an estate plan or a will in place. Understanding The Basics Of Estate Tax Planning Federal tax laws exempt property up to two million dollars from estate tax. They also allow a one million-dollar lifetime limit for gifting property without attracting any gift tax. How Can Estate Planning Services Help You? A carefully crafted estate plan can ensure that only your intended heirs or beneficiaries derive benefit from your estate. If you are unable to make a proper estate plan in time, it may also prove to be very costly in terms of heavy taxes. Finding the Best Estate Planning Attorney for Your Family Finding a good estate-planning attorney is vital for the success of your estate plan. The best attorney would not be one who is just aware of the legal provisions related to how your estate would be transferred in the manner and to whom you want it to got to. Self-Defense Guide to Estate Planning for Women If you are a woman, are financially secure, and have assets that you expect to pass on to people you love and care for, you must make a suitable estate plan. It is vitally important to be aware of your rights and take appropriate steps to protect and ensure the disposal/distribution of your assets according to your wishes when you pass away. Estate Planning - No Contest Clause in A Will Estate planning is an effective measure undertaken to ensure that the assets you possess, which are usually the outcome of a lifetime of labor, are transferred to the recipients according to your wishes after your demise. To make your wishes effective, you may decide to make a will as part of your estate plan. The Reasons Why Estate Planning Is So Important Many people fail to understand the importance of estate planning. Estate Tax Planning The estate of a deceased person is subject to estate tax levied by the government. This tax is levied on his taxable estate, the value of which is arrived at by reducing his gross estate by something known as allowable deductions, where the gross estate is the total value of all the assets owned by the deceased at the time of his death. Estate Planning Strategies The reason for making an estate plan is to ensure that all your assets are handled in accordance with your intentions after your demise. The plan consists of creating a host of legal documents which may include deeds of trusts, a will and other legal instruments. Remarriage and Estate Planning Ideally, there should not have been any necessity for estate planning. In a congenial family atmosphere, surviving members would amicably have divided everything equitably and set matters at rest. Estate Planning and Trusts If you own property or assets of substantial value and have not yet thought about estate planning, it is time to start doing your calculations in order to put a plan in place. If you die having property, the state levies tax on your estate. Estate Planning and the Steps to Avoid Probate If you die owning property, whether substantial or not, the property has to go to someone after your death. You can make your estate plans and make a will specifying whom you want your assets to go to, which may include one or more persons. 101 Of Estate Planning Estate planning is a way in which people can ensure that their wishes about their health and assets are carried out in the way that they desire, and that those they care about are provided for in the event of death.

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