- Inheritance Tax

Inheritance tax planning: Rates and Advice

Inheritance tax planning isn’t the most interesting discussion, but it is vital to carrying your wishes at the time of your death. Inheritance Recovery Lawyers understand the emotions involved in planning. Just as essential are the decisions, you need to make based on government and tax regulations. Our advice and guidance are based on the rules of inheritance and the potential for inheritance tax increases.

The plan’s purpose is to make sure your life efforts are secured and protected for the next generation. Planning helps to protect your assets and the rights of your heirs by preventing the possibilities of lengthy and sometimes complicated legal battles after death.

Depending on your state of affairs and the size of your estate, scheduling a consultation is necessary. Meeting with our experienced legal and tax professionals is going to remove the anxiety you’re already feeling. During your initial session ask about the costs for developing and maintaining the estate plan for your state of residence and the beneficiaries.

Estate Tax Exemptions

Both federal and state laws enforce estate rulings. Estate planning can take advantage of exemptions set at each level. Exceptions are also known as estate tax exclusions. The exemption amount is subtracted from the estate’s gross value to determine its tax liability.

Since 2010, the exemption amounts have increased each year. In 2018 the exemption amount raised to $11.18 million. So, if you die in 2018 with an estate valued at more than exempt amount, only the excess is taxed.

Beneficiary Inheritance Taxes

When property is passed directly to a surviving spouse, family members or charitable organizations it becomes exempt from federal taxes. However, some states have inheritance taxes. If a beneficiary lives in one of these states, we can help in managing the potential tax liabilities.

You need to understand how tax planning strategies can provide you with options to prevent leaving your beneficiary in debt. Unfortunately, many estates consider gifting as a means of transferring ownership of assets without obligation. It doesn’t always work effectively.

There are legal provisions equipped to distribute your assets to siblings, children, or grandchildren debt free. Bequests to cousins or unrelated individuals may be subject to inheritance taxes.

Planning Managing and Distributing Estate Costs

As for the cost of planning. Ask yourself this question. What’s your peace of mind worth?

The first step is to review your assets. Next, decide what you want to do with the estate holdings. Because life changes, your plan should be updated regularly while you’re still working or transitioning into retirement. Your attorney will make sure your earned wealth and accumulated assets are distributed as you wish, minimizing taxes and fee obligations for your survivors.

No-one-size fits all. You’ve spent a lifetime creating a unique existence. Inheritance Recovery Lawyers allow your descendants the ability to continue living your dream.

Make the most of the first meeting. Start with a list of questions and have a summary of your financial situation. The prices are going to vary according to the inheritance values and tax provisions.


- Marijuana

You need to put a stop to this uncontrolled supplement intake

Normally, we depend on natural food sources to obtain the core nutrients of Carbohydrates, Proteins, Vitamins, Minerals and Fats. As inherent omnivores, human beings consume a plant and animal- based diet. A combination of these results in the ideal balanced diet. So it begs the question, when did we start depending so much on supplements?

The issue of supplements is a tricky one. It is heavily regulated area and involves serious scrutiny from the Food and Drugs Administration (FDA). Any manufacturer who wants to get into this space has to go through layers of FDA approvals before the product can be launched in the market.

Okay, supplements are good once in a while. But in America, we look to indulge, don’t we? Be it food, alcohol, weed or pills, we binge. So it is not really surprising that supplement intake per intake in the Us is the highest in the world, with more than half of the population consuming one or multiple pills on a daily basis.

And you know the worst part? There are zero regulations on supplement sale once the product has been granted an FDA approval. You can buy as many as you want without prescriptions. Let us face it, we are not health experts. Neither do we fully consider the ramifications and side-effects of even the simplest of pills like vitamin pills. Why can’t we be normal for once and simply consume the most natural of vitamin sources, vegetables?

Yes, there is a rising trend of organic food and healthy eating in the United States, but they seem to be restricted mostly to the more cosmopolitan states such as New York, California and Washington. It is not nationwide. Today, we have the issue of CBD pills, which aren’t even totally allowed and yet are sold in the market. CBD isn’t allowed by the FDA as a dietary supplement, and yet appears as an ingredient in many items such as food, oils and capsules.

We need to put a stop to this incessant supplement consumption. A combination of a diet based on vegetables, fruits and meat, along with the occasional supplement, should be the objective.

- Medicine

Personalization for medicine? This seems ridiculous to us.

It is safe to say that the world has changed in so many ways in the past few decades. The way we conduct business has dramatically changed. It was often the view that companies and shareholders hold the power in the market, and consumers are secondary.

You wouldn’t say the same today, would you! With each business pathetically scrambling to modify their outdated mission statements and proclaim themselves as the most customer-centric company, it is fair to say that consumers have risen up the pecking order. All the way to the top, in fact.

And that has caused a tectonic shift in priorities. Companies always used to be shareholder-centric. Shareholders were the first and the last people to appease, and nothing could go against their wishes. Today those very shareholders have been replaced by consumers. Actions of companies such as Amazon, P&G and Apple have resulted in power to the consumer.

All this bodes well for us. We haven’t begun our rant yet. What pisses us off is the pitiful meandering to the consumer today. Yes, we want you to pay attention to us but we also want you to focus on building the best product or service. We aren’t going to kill you if that added innovation means a slight increase in prices. After all, we want the best too.

So why all this? It stems from the fact that companies have apparently begun to offer customizable CBD today. You know, the thing that is the non-psychoactive component of Marijuana. At the right therapeutic doses, CBD helps to cure pain, inflammation and even more serious things such as epilepsy.

We get it, it matters. But customizable medicine, seriously!? We are talking about curing ailments and diseases here, not having the right level of tan in your face! Look, personalization is important for some kinds of products, such as cosmetics, clothes and stuff where it makes sense to personalize. Not something like medicine. Really, the concept of personalization has reached ridiculous levels.

- Marijuana

Why we need some damn laws in place to prevent weed-related deaths

So, what were you doing the day Washington set the wheels in motion by legalizing recreational cannabis usage? I know what I was doing. I was mentally envisaging a day when stoners led our modern economy to the next phase! How appealing!

Okay, I won’t complain so much about legalization. After all, who doesn’t like the occasional “self-exploration”. The problem is that the government doesn’t seem to have considered the full ramifications of this legal act. Americans cannot be really trusted with addictive substances, as has been proven on numerous occasions.

Legalize weed, but for heaven’s sake set some boundaries in place. Do you recall that more than 13,500 people died through drink-driving accidents in 2006? And that people had to massively adopt technology to limit this issue. The breathalyzer was used increasingly, and a decade later drink driving deaths fell by 25%!

Today, we are more educated, wiser and more cautious. We managed to bring down the death toll of drink driving, but may have created another monster – stoner driving. Frankly, I don’t know which is worse, driving under the impact of alcohol or a hallucinogen. Whatever progress we have made in reducing 100% man-made accidents is at serious risk.

Put some controls in place. Colorado has seen a 48% rise in weed-influenced deaths in a matter of six years! 48%! With the legalization, the number of businesses selling weed in the common market has shot up. We have much more supply and prices are more favorable for consumers.

I like my share of fun, but just like every other American I like safety and security. I appreciate the Obama Government’s proactiveness in appeasing American consumers, but the Government should prioritize safety over consumer desires. Let’s hope they act soon.