Author Archives: Byron Banks

Numerous states enacted estate tax programs which supplemented the federal estate earnings tax laws. Understood as “pick-up” taxes, state estate tax programs usually got where federal taxes left-off. Therefore, given that many estates did not owe federal earnings taxes, a little number of Floridians paid state pick-up estate taxes. According to the pick-up tax program, […]

Many individuals are puzzled by the term “probate” and what it suggests. That is ok. It’s complicated. Ask a group of estate planning legal representatives what “probate” is and you will most likely get a various answer on what the term “probate” indicates to each of them. To me, it is a broad term which […]

When someone dies, it is necessary to understand what dreams need to be adhered to, and who is accountable for last rights and preparations. This may depend upon the state, if an estate plan remained in presence at the time of death or if the parents are provided the choice. Signed Contracts When a funeral […]

The Wall Street Journal reported,” [a] ccording to the National Association of Unclaimed Property Administrators, state treasurers presently hold $32.9 billion in unclaimed bank accounts and other assets. (You can look for unclaimed properties at MissingMoney.com.)” For the most part, this is cash successors didn’t understand about because their liked ones either didn’t do estate […]

Many people wish to provide an inheritance to grandchildren. There might be a range of scenarios in which grandchildren’s situations are thought about in order to provide a reliable estate plan. There are many methods to offer for grandchildren, depending upon the scenarios. Grandchildren as Dependents Lots of grandparents actively raise their grandchildren. Their own […]

Question 1: Exist Various Kinds Of Co-Ownership of Property? Yes, and not all types of property co-ownership prevent probate. The different ownership types include occupancy in common, joint occupancy with right of survivorship and tenancy by the totality. In all kinds of co-ownership except occupancy in common, you can avoid probate. If you own property […]

Families who have children with special requirements typically try to plan ahead to expect the requirements of the child with specials needs. It is typically really expensive to offer the standard needs of a child in this situation. Nevertheless, parents who take steps to try to protect resources for their disabled child’s use might wind […]

It is helpful to recognize the reality that estate planning is simply one element of elder law, and as older law attorneys it is our task to remain apprised of all of the concerns of the day that affect our elders. One matter that has been getting a lot of attention just recently is that […]

When an individual has created a will, there are often challenges to the file and terms and conditions held within by household or other dependents. A professional might be needed in the event that the complainant was left out of the will when the estate owner that has passed away was not of sound mind […]

Getting an inheritance can be a blessing, however there are generally tax responsibilities involved including the inheritance of an Individual Retirement Account. If you inherit an Individual Retirement Account, you need to inspect with an attorney or financial consultant as soon as possible to learn what your alternatives are. IRAs are personal savings prepares that […]