Tax Planning FAQs

Q. WHAT KIND OF TAXES WILL I HAVE TO PAY WHEN I DIE? A. Depending on the State, a decedent is responsible for the payment of both State and Federal gift and estate taxes. Estate and gift taxes are in addition to the taxes paid on income. No Federal estate or gift tax is due […]

Probate FAQs

Q. WHAT IS PROBATE? A. Probate is the legal process that allows the court to prove or disprove the decedent’s last will and testament, allows heirs to contest the will and appoints and grants authority to the executor of the estate to act on behalf of the estate during the estate administration. Q. HOW DOES […]

Estate Planning FAQs

Q. WHAT IF I DIE WITHOUT A LAST WILL AND TESTAMENT? A. When an individual has no plan for distributing assets at death, that individual is deemed to have died intestate. When an individual dies intestate, the court appoints an administrator to administer the assets and state law determines how the assets are distributed. What […]