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February 27, 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 "Family Limited Partnership" can be used to own and manage your property
In a similar manner to a Trust, but allowing additional tax planning techniques to be employed. Family Limited Partnerships are typically used for those who have large estates and thus have a need for specialized estate planning in order to minimize federal and state estate/death/inheritance taxes as well as provide elements of asset protection.

	Newsroom
	Latest news about Financial & Estate Planning in Kansas and nationwide: Attorney General Takes Action Against Estate Planning Company Attorney General Hardy Myers today warned older Oregonians about being targets of "living trust mills" and announced the filing of a court action a... Read more > Health Care Power Of Attorney In addition to a Health Care Power of Attorney, another document, known as a Living Will, is used to plan future health care choices. The Health Ca... Read more > More Estate Planning News >

Estate Planning Terms

Today's Terms

Gain

Definition:
The difference between the Tax Basis (the amount originally paid for property with certain adjustments) and the amount received for the property when it was sold.

Exemption Credit

Definition:
The amount of tax credit, similar in nature to the personal income tax exemption, applied to the transfer tax due at a person's death.

Personal Property

Definition:
Movable property, including furniture, antiques, automobiles, business equipment, cash and stocks. Compare with Real Property.

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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

Kansas 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:

Derby
Dodge City
Emporia
Garden City
Hays
Hutchinson
Junction City
Kansas City
Lawrence
Leavenworth
Lenexa

Liberal
Manhattan
Newton
Olathe
Overland Park
Pittsburg
Prairie Village
Salina
Shawnee
Topeka
Wichita

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