Probate attorneys at Clarity Legal Group can provide you with representation during the probate process. Probate typically takes place after someone has passed on. It is the process by which the assets of the deceased person transfer to new owners. As Investopedia explains, it can be a lengthy and costly process, so having an experienced attorney represent you is important. While the probate process occurs after most deaths, it does not necessarily have to occur every time someone passes … [Read more...]
The 2015 Lifetime Estate Tax Exclusion & Annual Gift Tax
Historic Overview Congress and the Wilson administration established the original federal estate tax in 1916. However, the lack of an annual gift tax limitation provided a large unintended loophole for individuals to distribute inheritances prior to their death and avoid the estate tax. The federal annual gift tax exclusion was first enacted in 1924, repealed in 1926, reenacted in 1932 and has remained in force since that time. Congress and the Reagan administration unified the lifetime and … [Read more...]
