Estate Planning FAQs
We believe there is only so much you can learn from a website.
Estate Planning FAQs
We believe there is only so much you can learn from a website.
What is a will?
What does it mean to be intestate?
What is Probate?
(1) a judge determines whether or not the decedent’s Will is valid;
(2) a personal representative/executor is appointed to:
(a) collect the decedent’s assets in his or her probate estate,
(b) pay the decedent’s legal debts, and
(c) distribute the remaining assets in the decedent’s probate estate to the individuals or entities entitled to the assets in accordance with the Will or laws of intestacy; and
(3) the court approves the transfer of the decedent’s assets to the individuals and entities designated in the Will or the laws of intestacy. The probate court will also determine the rights, if any, of a spouse and children to the decedent’s property.
What are letters of administration?
What are letters testamentary?
What is a power of appointment?
What is a living will?
What is a medical power of attorney?
What is a power of attorney?
What is a HIPPA release?
What is a directive to physicians?
- You have an irreversible condition
- You have a terminal condition.
These conditions must be diagnosed and certified in writing by the attending physician.
What is a DNR?
What is a revocable living trust?
What is a Trustee?
What is community property?
What is the marital deduction?
What is an irrevocable trust?
What is a Trust Certificate?
What is a fiduciary?
What is joint tenancy with right of survivorship (JTWROS)?
What is the unified credit (applicable exclusion amount)?
How does it work? During your lifetime you can give away $5,000,000 without having to pay any estate or gift tax on that money. Once you go over that amount, you will be taxed.
What is the estate tax?
What is the gift tax?
The gift tax applies to the transfer by gift of any property. You make a gift if you give property (including money), or the use of or income from property, without expecting to receive something of at least equal value in return. If you sell something at less than its full value or if you make an interest-free or reduced-interest loan, you may be making a gift.
What is the death tax?
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What is a will?
What does it mean to be intestate?
What is Probate?
(1) a judge determines whether or not the decedent’s Will is valid;
(2) a personal representative/executor is appointed to:
(a) collect the decedent’s assets in his or her probate estate,
(b) pay the decedent’s legal debts, and
(c) distribute the remaining assets in the decedent’s probate estate to the individuals or entities entitled to the assets in accordance with the Will or laws of intestacy; and
(3) the court approves the transfer of the decedent’s assets to the individuals and entities designated in the Will or the laws of intestacy. The probate court will also determine the rights, if any, of a spouse and children to the decedent’s property.
What are letters of administration?
What are letters testamentary?
What is a power of appointment?
What is a living will?
What is a medical power of attorney?
What is a power of attorney?
What is a HIPPA release?
What is a directive to physicians?
- You have an irreversible condition
- You have a terminal condition.
These conditions must be diagnosed and certified in writing by the attending physician.
What is a DNR?
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What is a revocable living trust?
What is a Trustee?
What is community property?
What is the marital deduction?
What is an irrevocable trust?
What is a Trust Certificate?
What is a fiduciary?
What is joint tenancy with right of survivorship (JTWROS)?
What is the unified credit (applicable exclusion amount)?
How does it work? During your lifetime you can give away $5,000,000 without having to pay any estate or gift tax on that money. Once you go over that amount, you will be taxed.
What is the estate tax?
What is the gift tax?
The gift tax applies to the transfer by gift of any property. You make a gift if you give property (including money), or the use of or income from property, without expecting to receive something of at least equal value in return. If you sell something at less than its full value or if you make an interest-free or reduced-interest loan, you may be making a gift.
What is the death tax?
Contact Us
“We believe there is only so much you can learn from a website.”
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