Kenny Rogers didn’t write a lot of his greatest hits. His heirs get a little cash, when any of his recordings are played or purchased online, but that’s just a trickle of income.
Did you receive an inheritance of cash, investments, or property? Here are four ways that can help you keep it from being swallowed up by taxes.
Estate planning is the process of arranging, while you are alive, what will happen to your estate, your children and your wealth after you die.
Beneficiaries of a trust typically pay taxes on the distributions they receive from the trust’s income, rather than the trust itself paying the tax. However, these beneficiaries are not subject to taxes on distributions from the trust’s principal.
Generally, if you own property, have life insurance and/or have other assets which total over $150,000 (including life insurance and real property), you are a candidate for asset protection.
Though most people who contract COVID-19 experience mild symptoms, it doesn’t hurt to be prepared if you do need to be hospitalized. It can feel scary thinking about getting sick or not being able to make decisions for yourself, but an estate plan is meant to ease your fears. After all, wouldn’t you feel better knowing that the burden of making health and financial decisions will never fall on unprepared family members?
When a family member or other loved one dies, the natural response is to feel overwhelmed. However, there are some very practical and legal matters that need to be attended to ‘immediately, if not sooner.’
The number of global coronavirus cases surpassed 900,000 on Wednesday—with more than 200,000 known infections, and a death toll that has quadrupled over the last week just in the United States. The health implications alone are terrifying enough, not to mention the economic turmoil or the emotional toll of lockdown measures currently affecting three out of four Americans.
You’ve considered how you want your estate to be distributed after you die. Hopefully, you’ve even written a will to make sure your wishes will be followed. So, your estate is planned…right?
The Walt Disney Company has come a long way since it was founded by brothers Walt and Roy O. Disney nearly a century ago. What began as a cartoon studio is now a media powerhouse, complete with amusement parks and properties.