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February 26, 2010

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Estate Planning News

IRS Plans To Reduce Estate Tax Lawyers

Washington, D.C. - The Internal Revenue Service (IRS) plans to reduce by nearly half the number of tax attorneys assigned to audit estate tax returns. By the end of September 2006, under the Bush Administration’s plan, the IRS will terminate 157 estate tax lawyers and 17 support staff.

Contact our Alabama estate planning attorney now.

Did You Know?

A "Family Limited Partnership" can be used to own and manage your property
In a similar manner to a Trust, but allowing additional tax planning techniques to be employed. Family Limited Partnerships are typically used for those who have large estates and thus have a need for specialized estate planning in order to minimize federal and state estate/death/inheritance taxes as well as provide elements of asset protection.

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	Latest news about Financial & Estate Planning in Alabama and nationwide: Health Care Power Of Attorney In addition to a Health Care Power of Attorney, another document, known as a Living Will, is used to plan future health care choices. The Health Ca... Read more > Economic Benefits Of Estate Tax Repeal Should Be Made Permanent WASHINGTON, D.C. - The positive effects of repealing the estate tax should be made permanent, Vice Chairman Jim Saxton said today in releasing a ne... Read more > New Tax Laws Offer NewWays To Save Evaluate your income, find out your tax bracket and seek ways to keep it low HUMBERTO CRUZ Tribune Media Services It was important ... Read more > More Estate Planning News >

Estate Planning Terms

Today's Terms

Will

Definition:
A written document that provides instructions for disposing of a person's property upon the person's death. A will generally also names an executor or personal representative to handle the estate.

Inheritance Tax

Definition:
A tax imposed by the state at the time of a person's death that is based upon the total value of the decedent's estate

Joint Tenancy

Definition:
Property owned by two or more people in a manner such that upon death of one of the joint owners, all of his/her interest in the property is transferred immediately, by operation of law, to the other surviving owners.

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Estate Planning Resources

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Estate Planning Hot Topics

Topics Related to Estate Planning:

Trusts
Wills
Uniform Probate Code
Gift Tax

Alabama Estate-Planning Attorney

If you live in the following cities and need an Estate-Planning attorney you should contact our Estate-Planning Attorney as soon as possible:

Alabaster
Albertville
Alexander City
Anniston
Athens
Atmore
Auburn
Bay Minette
Bessemer
Birmingham
Cullman
Daphne
Decatur
Dothan
Enterprise
Fairhope
Florence
Fort Payne
Gadsden

Hartselle
Huntsville
Madison
Mobile
Montgomery
Opelika
Ozark
Pelham
Phenix City
Pinson
Prattville
Selma
Sylacauga
Talladega
Theodore
Trussville
Tuscaloosa
Wetumpka

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