People often believe that Estate Planning is a “simple” process designed only for those whose estates will exceed the Applicable Exclusion Amount of $12.92 million in 2023. That myopic view causes many who should undertake Estate Planning to skip it altogether or to look for ways to complete the planning on their own without the services of a qualified Estate Planning attorney. As the last article in this two-part series demonstrated, numerous taxes impact Estate Planning. This second part of this series continues by exploring the various non-tax reasons to create a comprehensive Estate Plan. Read on to learn more.
- IRS Confirms Grantor Trust Status Alone Does Not Cause a Step-Up in Basis - September 28, 2023
- What Counts as Income and Countable Resources for Medicaid Eligibility in North Dakota? - September 26, 2023
- Understanding the Uniform Transfer to Minors Act - September 21, 2023