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THE ESTATE TAX—AN OVERVIEW
The estate tax in the United States is a tax on the transfer of the estate of a deceased person. The tax applies to property that is transferred via a will or according to state laws of intestacy. Other transfers that are subject to the tax can include those made through an intestate estate or trust, or the payment of certain life insurance benefits or financial account sums to beneficiaries. The estate tax is one part of the Unified Gift and Estate Tax system [...]
The Forbes 400–An Estate Planning Nightmare
The Forbes 400- An Estate Planning Nightmare! The Forbes 400 has been around since 1982 and has become a wonderful resource guide to the wealthy families throughout the United States and abroad. However, a deeper analysis of the Forbes 400 lays out a spectacularly eclectic grouping of some of the most sophisticated and unsophisticated estate plans in the world! Although never fully examined, the world’s richest people [...]
WHAT IS A WILL? Get to Know the Facts Before You Choose One.
A will or testament is a legal document by which a person, the testator, expresses their wishes as to how their property is to be distributed at death, and names one or more persons, the executor, to manage the estate until its final distribution. For the devolution of property not disposed of by will, see inheritance and intestacy. Though it has at times been thought that a "will" was historically limited to real property while "testament" applies only [...]