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August 24, 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.

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Did You Know?

A Will, is sometimes called a "Last Will and Testament"
Used to transfer property you hold in your name to the person(s) and/or organization(s) you want to have it. A Will also typically names someone you select to be your Personal Representative (or "Executor") to carry out your instructions and names a Guardian if you have minor children. A Will only becomes effective upon your death, and after it is admitted to probate.

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	Latest news about Financial & Estate Planning in Nebraska and nationwide: Estate Planning – Considering a Second Marriage Late in Life “As the life expectancy of people in the United States increases, the reality of second and third marriages becomes more likely even for those who ... 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 > More Estate Planning News >

Estate Planning Terms

Today's Terms

In-Terrorum Clause

Definition:
A provision of a will or trust that disinherits a person in the event that he/she challenges the terms of the will or trust. Sometime called a No-Contest Clause.

Transfer Tax

Definition:
The combined Federal Estate and Gift tax. A single exemption credit applies whether the property was transferred during a person's lifetime (gift tax) or is held by a person at the time of his/her death (estate tax).

Personal Property

Definition:
Movable property, including furniture, antiques, automobiles, business equipment, cash and stocks. Compare with Real Property.

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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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