Changing your estate plan can be intimidating. Many do not know know when the appropriate time to do so is, but we have put together this blog to help you better understand. Getting a estate plan in place is a great way to protect yourself, your family and your legacy. When you completed your plan,…
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Estate planning can become a bit tricky if your spouse is not a U.S. citizen. Why? For estate tax purposes, U.S. citizens have a huge tax advantage over non-citizens. Your estate will have to pay federal estate taxes when you die if the net value (assets minus debts) is more than the exempt amount at…
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There is a common misconception that estate planning is only for the wealthy so they can minimize their tax liabilities. While this is one part of estate planning, it is certainly not the only part. Even if someone isn’t wealthy or concerned about taxes, there are a number of important non-tax reasons why everyone should…
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Many people are wondering what happened to the estate and gift tax laws as a result of the last minute law passed by Congress. For the most part, they continued the status quo. This is a huge boon for wealthy individuals. If Congress had not acted, the estate tax exclusion amount would have dropped from…
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Arizona corporation commission nonprofit forms: the good and the bad regarding them. We’re here to keep you covered. Recently, the Arizona Corporation Commission (ACC) released all new forms for entity filings. This includes new forms for nonprofit corporations. Depending on your goals, this could either help you or hurt you. Nonprofit corporations that wish to…
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The taxman is coming. The late James Gandolfini left his heirs an estimated $70 million. However, because of poor estate planning, his heirs will owe a more than $30 million tax bill. What did Gandolfini do wrong? In his will he left 80% of his estate to his sisters and nine month old daughter. This…
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