Federal Tax Exemption for 2016: $5.45 Million
The federal government has announced the expected tax numbers for 2016, and -- surprise -- there were no surprises.
California Adopts Transfer-on-Death Deeds
California has adopted legislation allowing people to leave their California real estate without probate, by using a transfer-on-death deed.
Kentucky Allows Funeral Services Declaration
Effective July 15, 2016, Kentucky residents may make a "funeral planning declaration" appointing someone -- called a "designee" -- to carry out funeral wishes and plans.
Federal Estate Tax Exemption for 2017: $5.49 Million
Unless your estate is worth many millions of dollars, you do not need to worry about the federal estate tax.
Ohio Extends the UTMA Up To Age 25.
Under the Ohio Transfers to Minors act, you can use your will to decide when a young beneficiary no longer needs property management. You can choose an age between 18 and 25.