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February 26, 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 "Family Limited Partnership" can be used to own and manage your property
In a similar manner to a Trust, but allowing additional tax planning techniques to be employed. Family Limited Partnerships are typically used for those who have large estates and thus have a need for specialized estate planning in order to minimize federal and state estate/death/inheritance taxes as well as provide elements of asset protection.

	Newsroom
	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 > Health Care Power Of Attorney In addition to a Health Care Power of Attorney, another document, known as a Living Will, is used to plan future health care choices. The Health Ca... Read more > Establishing A Trust Fund A trust is a separate legal entity that holds property or assets of some kind for the benefit of a specific person, group of people or organization... 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.

Will

Definition:
A written document that provides instructions for disposing of a person's property upon the person's death. A will generally also names an executor or personal representative to handle the estate.

Decedent

Definition:
A person who has died.

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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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