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February 26, 2010

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Estate Planning News

IRS Plans To Reduce Estate Tax Lawyers

Washington, D.C. - The Internal Revenue Service (IRS) plans to reduce by nearly half the number of tax attorneys assigned to audit estate tax returns. By the end of September 2006, under the Bush Administration’s plan, the IRS will terminate 157 estate tax lawyers and 17 support staff.

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Did You Know?

A "Family Limited Partnership" can be used to own and manage your property
In a similar manner to a Trust, but allowing additional tax planning techniques to be employed. Family Limited Partnerships are typically used for those who have large estates and thus have a need for specialized estate planning in order to minimize federal and state estate/death/inheritance taxes as well as provide elements of asset protection.

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	Latest news about Financial & Estate Planning in Michigan and nationwide: Health Care Power Of Attorney In addition to a Health Care Power of Attorney, another document, known as a Living Will, is used to plan future health care choices. The Health Ca... Read more > Making A Will The simplest way to ensure that your funds, property and personal effects will be distributed after your death according to your wishes is to prepa... Read more > New Tax Laws Offer NewWays To Save Evaluate your income, find out your tax bracket and seek ways to keep it low HUMBERTO CRUZ Tribune Media Services It was important ... Read more > More Estate Planning News >

Estate Planning Terms

Today's Terms

Will

Definition:
A written document that provides instructions for disposing of a person's property upon the person's death. A will generally also names an executor or personal representative to handle the estate.

Informed Consent

Definition:
An authorization to proceed by a person who has been given and understands all of the relevant facts.

Personal Property

Definition:
Movable property, including furniture, antiques, automobiles, business equipment, cash and stocks. Compare with Real Property.

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Estate Planning Resources

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Estate Planning Hot Topics

Topics Related to Estate Planning:

Trusts
Wills
Uniform Probate Code
Gift Tax

Michigan Estate-Planning Attorney

If you live in the following cities and need an Estate-Planning attorney you should contact our Estate-Planning Attorney as soon as possible:

Adrian
Ann Arbor
Battle Creek
Bay City
Belleville
Canton
Clinton Township
Dearborn
Dearborn Heights
Detroit
East Lansing
Flint
Grand Blanc
Grand Rapids
Hamtramck
Highland Park
Holland
Howell
Jackson
Lansing
Lincoln Park

Livonia
Macomb
Mount Pleasant
Muskegon
Niles
Northville
Plymouth
Port Huron
Redford
Rochester
Roseville
Saginaw
Sterling Heights
Taylor
Traverse City
Trenton
Troy
Warren
Westland
Wyandotte
Ypsilanti

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