The federal estate tax is a cut of estate value that goes to the Internal Revenue Service. When the federal estate tax comes into play, it can take a hefty bite out of the value of an estate. Luckily for most people, thresholds on this tax and numerous other factors mean that only a small percentage of people end up dealing with it, and very few estates that include small family business or farms end up on the hook for estate taxes.
Numerous New Jersey residents struggle to meet their debt obligations. Are you one of them? If so, you more than likely explored various debt relief options available to you. You might find Chapter 7 bankruptcy intriguing since it could provide you with a fresh financial start free from most of your debts, but what does that actually mean?.
If you are someone saddled with debt, including tax debt, it is common to wonder what options are available for relief. Bankruptcy is often a good solution for those suffering under the weight of insurmountable debt, but what if your debt is related to taxes owed?
When it comes to matters regarding estate administration and probate, it is common to have many questions on your mind. What will happen next? Am I making the right decisions?
The Prince heirs have been in the news consistently for almost a year now as courts, heirs and lawyers work to move the complex estate through probate. Part of the problem is that the pop star died without a will -- or any other estate provisions -- leaving everything to be sorted according to the law. That left courts with months of work in identifying the right heirs, and now that six heirs have been identified, they can't seem to agree on much.
A blind trust is a certain type of legal vehicle that is used when the person who owns the assets shouldn't be able to know how the assets or being managed or have a hand in the management of the assets. Blind trusts are not something you'd use in common financial and estate management situations, but they can be a valuable tool when ethical or legal restrictions make it difficult to maintain ties with your own wealth or businesses.