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February 06, 2012

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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.

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Did You Know?

Estate planning is a process to consider alternatives
Good estate planning is more than just a simple Will. Estate planning also typically minimizes potential taxes and fees, and sets up contingency planning to make sure your wishes regarding health care treatment are followed. On the financial side, a good estate plan coordinates what would happen with your home, your investments, your business, your life insurance, your employee benefits (such as a 401K plan), and other property in the event you became disabled or if you die.

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	Latest news about Financial & Estate Planning in Nebraska and nationwide: Living-Wills Legislation Gains Broad Support WASHINGTON - There's growing support among Democrats and Republicans in Congress, and key advocacy groups, including the AMA, to pass legislation t... Read more > Dems Obstruction Of Death Tax Repeal Harmful Coleman says repeal legislation deserves a vote June 8th, 2006 - Washington, D.C. - Senator Norm Coleman today expressed his... Read more > More Estate Planning News >

Estate Planning Terms

Today's Terms

Incapacity / Incompetent

Definition:
Legally unable to manage one's own affairs due to mental disability. This may be temporary or permanent.

Estate

Definition:
The total of all assets, all debts and other obligations of an individual. At the time of death the total amount of benefits (life insurance, annuity and retirement benefits) to be paid to beneficiaries are often also considered part of the estate for Federal Estate Tax purposes

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

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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

Nebraska 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:

Alliance
Beatrice
Bellevue
Blair
Columbus
Fremont
Gering
Grand Island
Hastings
Kearney

La Vista
Lexington
Lincoln
Norfolk
North Platte
Omaha
Papillion
Plattsmouth
Scottsbluff
South Sioux City

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