Estate Taxes

If your loved one’s estate includes significant wealth, you probably have concerns about how the government will tax it during probate. The various taxes that might affect the estate may take a considerable chunk from the inheritance your loved one hoped to leave...

Let us say that your favorite aunt named you as the executor of her estate. Aunt Lucy passed away suddenly, and her estate must now go through the probate process. Your responsibility in administering your aunt’s estate includes paying outstanding debts and filing...

Some Georgia residents may feel as if they have no need to review or update their will or trust. However, a person's needs and wishes can change dramatically from the time that they first write a will or create a trust. For instance, an individual could welcome a...

If you are thinking about creating your will and perhaps other documents in an estate plan, one of your questions will likely be about taxes and how they will affect the assets you want to leave to your heirs. For example, what constitutes a taxable estate? What...

Gross estate refers to the value of all the assets in an estate. It may include real property both in and outside the country, bank accounts, annuities, stocks and more. Even property that is not necessarily owned by the estate is included, such as property a person...

Georgia residents might like to know about legitimate ways to minimize or eliminate gift and estate taxes. Those who own a successful business may wish to freeze the value of a company to avoid taxes due to future appreciation of the company. This strategy to reduce...

Estate planning professionals in Georgia and around the country will likely welcome news that the Internal Revenue Service has made it easier for a surviving spouse to receive the unused portion of the deceased partner's estate tax exemption. Under Revenue Procedure...

When Georgia residents consider writing a will, they are often concerned with ensuring that their loved ones are provided for, that minor children will be taken care of, and that their end-of-life medical decisions will be respected. One area that is sometimes...

Careful estate planning can be used to reduce the tax burden on assets that are intended for the next generation. Georgia residents may want to know if estate planning is necessary if the federal estate tax will be repealed as promised by the current presidential...

Artists and celebrities in Georgia might want to consider the value of their images or likenesses when making an estate plan. The image of someone who earned a living as an entertainer or was famous might continue to be profitable after death, and estate taxes could...