Estate Planning

Have You Checked Your Estate Planning Documents Recently?

It is a good idea to periodically review your estate planning documents.  The first task, many times, is to just find those documents.  It is fairly common for folks to remember that they executed documents years ago, but be unable to find the originals.  If you can locate the originals, a person should secondly determine whether the choices made those many years ago are still applicable.  Changes in assets, marital status, children becoming adults, birth …

National Healthcare Decisions Day

National Healthcare Decisions Day will be Tuesday, April 16, 2013.  The Cole County Bar Association will be providing free assistance with completion of healthcare directives and durable healthcare powers of attorney from 10 a.m. – 2 p.m. at the following locations in Jefferson City – –  Clark Senior Center, 1310 Linden Drive, Jefferson City, Missouri –  Missouri River Regional Library, Art Gallery, 214 Adams Street, Jefferson City, Missour

Fiscal Cliff Deal Impacts Federal Estate Tax

It appears that the Fiscal Cliff Deal will, among other things, bring some certainty to the Federal Estate Tax system that has been lacking for the last thirteen years, or so.  Reports indicate that the legislation will make permanent the existing exclusionary amount and portability provisions, while the tax rate for amounts beyond the exclusionary amount will increase (the top rate will go to 40%, from a previous maximum of 35%).  A more detailed discussion …

Federal Estate Tax and Gift Tax Exclusions

The amount exempt from the federal estate tax will grow to $5,120,000 for 2012, while the annual gift tax exclusion will remain at $13,000 for the same year.  Unless Congress acts, the federal estate tax exemption will fall to $1,000,000 in 2013.