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July 20, 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 Will, is sometimes called a "Last Will and Testament"
Used to transfer property you hold in your name to the person(s) and/or organization(s) you want to have it. A Will also typically names someone you select to be your Personal Representative (or "Executor") to carry out your instructions and names a Guardian if you have minor children. A Will only becomes effective upon your death, and after it is admitted to probate.

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	Latest news about Financial & Estate Planning in Alabama and nationwide: IRS Plans To Reduce Estate Tax Lawyers ... Read more > Estate Planning – Considering a Second Marriage Late in Life “As the life expectancy of people in the United States increases, the reality of second and third marriages becomes more likely even for those who ... Read more > Living-Wills Legislation Gains Broad Support WASHINGTON - There's growing support among Democrats and Republicans in Congress, and key advocacy groups, including the AMA, to pass legislation t... Read more > More Estate Planning News >

Estate Planning Terms

Today's Terms

Estate

Definition:
The total of all assets, all debts and other obligations of an individual. At the time of death the total amount of benefits (life insurance, annuity and retirement benefits) to be paid to beneficiaries are often also considered part of the estate for Federal Estate Tax purposes

Federal Estate Taxes

Definition:
Taxes imposed by the US Government on the value of a person's estate upon his or her death.

In-Terrorum Clause

Definition:
A provision of a will or trust that disinherits a person in the event that he/she challenges the terms of the will or trust. Sometime called a No-Contest Clause.

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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

Alabama 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:

Alabaster
Albertville
Alexander City
Anniston
Athens
Atmore
Auburn
Bay Minette
Bessemer
Birmingham
Cullman
Daphne
Decatur
Dothan
Enterprise
Fairhope
Florence
Fort Payne
Gadsden

Hartselle
Huntsville
Madison
Mobile
Montgomery
Opelika
Ozark
Pelham
Phenix City
Pinson
Prattville
Selma
Sylacauga
Talladega
Theodore
Trussville
Tuscaloosa
Wetumpka

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