Three Keys About Estate Planning
In 2015, you can leave gifts to other individuals upon your death worth up to $5.43 million free of any federal estate taxes. This is the so-called estate-tax exemption. If married, both you and your spouse are entitled to separate $5.43 million exemptions. If one spouse dies and does not use up his or her […]
Tips To Aid Adult Children
Lots of retirees are interested in assisting their adult children financially these days. The children, now in their 30s, 40s or 50s, may have lost a job, gotten a divorce or have their own children ready to go to college. http://gty.im/159955126 But the parents themselves may find themselves in a precarious position – they don’t […]
When To Give Money To Your Heirs
You want to leave gifts for your heirs but you aren’t sure when to do it. Should you gift them now or leave it to them after you pass away? Under the law this year, you are exempt from gift taxes up to a lifetime max of $5.34 million. In addition, in any year you […]
What’s In Your Attic?
The popularity of television shows such as Antique Roadshow, where people find treasures in their attics and basements and get them appraised, has spawned a craze that has resulted in people getting items appraised free at walk-in events at a variety of locations. But these kinds of appraisals, called “verbal approximations of value,” provide only […]
Don’t Gift Things Away in Order to Qualify for Medicaid/ALTCS
When you apply for ALTCS, Arizona’s Long Term Care System, they will require you to disclose any gifts made within the last 5 years, that’s 60 months. A gift happens any time you give or transfer something of value to another person or entity and you did not receive something back for its’ fair […]
