The historic Supreme Court decision affirming a constitutional right to same-sex marriage throughout the United States has resulted in increased opportunities in estate planning, tax and employee benefits for these couples in all 50 states.
Legal terminology is often difficult for lay people to decipher. This is a list of legal terminology and jargon definitions translated into common English.
This past summer a young couple who gave their baby up for adoption during the pregnancy is suing, along with the prospective adoptive parents for their right to determine who will raise their child. The birth mother is a member of the Cherokee Nation which is claiming its right, as an independent government, to intervene on behalf of one of its citizens.
The Internal Revenue Service has assessed Coca-Cola Company as owing $3.3 billion in additional taxes for the tax years 2007 to 2009 after an audit recently completed. The taxes in question are on profits booked in foreign countries.
Some believe that the biggest obstacles in estate planning are faced before estate planning even begins. It seems it is most difficult to start estate planning due to an individuals procrastination, indecision and inattention.
There has been a recent spike in the use of perpetual trusts. These trusts, that are supposed to last forever, might not be all they are cracked up to be.
Arkansas House members passed a bill to reinstate a 50 percent exemption rate on capital gains.
An unclaimed safe deposit box yielded a Purple Heart and other Army medals awarded to a deceased gentleman. The Arkansas auditor's office contacted the man's daughter after locating the items in a vault.
As part of the budget approval process, the U.S. Senate passed an amendment to abolish the federal estate tax.
Under Arkansas' current tax laws, veterans in the state receive a $6000 exemption on taxes from their military retirement pay. Many other states, including Texas, Mississippi and Tennessee do not tax retirement pay.
Here is a list of celebrities that failed to do appropriate estate planning causing chaos after their deaths.
Despite concerns that changes in the tax law would harm Arkansas charities they are thriving in the improving economy.
While bringing a new life into the world is an overwhelming experience, you should take some time to include your new bundle of joy into your estate plan.
An important part of your retirement concerns must be tax planning. State tax regulations on retirement income, pensions, social security benefits and estates vary widely across the U.S. and should be taken into consideration when committing to a retirement plan.
If they haven't already, baby boomers should start estate planning. While this can be a complicated process, there are certainly some pitfalls everyone can avoid.
Rocker Lou Reed of The Velvet Underground made estate planning mistakes inluding using a limiting will instead of a revocable living trust.
Some politicians are pushing for a repeal of the estate tax/ death tax. Although they were initially happy with a compromise in the last few years, agricultural organizations have been after a full repeal. Even Hillary and Bill Clinton have crafted their estate plan to avoid the unpopular tax.
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