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February 06, 2012

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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 "Living Trust" can be used to hold legal title to and provide a mechanism to manage your property
You can select the person or persons you want -- often even yourself -- as the Trustee(s) to carry out the instructions you want in the Trust and name one or more Successor Trustees to take over if you cannot. Unlike a Will, a Trust usually becomes effective immediately, continues in force during your lifetime even in the event of your incapacity, and continues after your death. Most Trusts are "revocable" which allows the person who creates the Trust to make future changes, modifications and even to terminate it.

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	Latest news about Financial & Estate Planning in Arkansas and nationwide: Attorney General Files Second Suit Alleging HARRISBURG - Attorney General Tom Corbett today announced that a second civil lawsuit has been filed against the operators of a living trust sales ... Read more > 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 > More Estate Planning News >

Estate Planning Terms

Today's Terms

Gain

Definition:
The difference between the Tax Basis (the amount originally paid for property with certain adjustments) and the amount received for the property when it was sold.

Gross Estate

Definition:
The value of an estate before the debts are paid. In California Probate statutory attorneys and personal representatives fees are usually calculated based on the gross value of the estate, so that the value of the home is calculated before deducting the amount due on the mortgage.

Trust

Definition:
A long recognized legal concept (first used in ancient Greece during the times of Socrates and Plato) in which some or all property of a Trust Creator is held on behalf of a beneficiary (which may include the trust creator) in the name of the Trustee.

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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

Arkansas 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:

Batesville
Benton
Bentonville
Blytheville
Cabot
Camden
Conway
El Dorado
Fayetteville
Forrest City
Fort Smith
Harrison
Hot Springs National P
Jacksonville
Jonesboro

Little Rock
Magnolia
Mountain Home
North Little Rock
Paragould
Pine Bluff
Rogers
Searcy
Sherwood
Springdale
Texarkana
Van Buren
West Memphis
White Hall

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All attorney listings are a paid attorney advertisement, and do not in any way constitute a referral or endorsement by an approved or authorized lawyer referral service. The information provided on Arkansas Estate Planning Lawyers.com is not intended to be legal advice, but merely conveys general information related to legal issues commonly encountered. Your access to and use of this website is subject to additional Terms and Conditions.

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