You may take a look at your bills and come to the conclusion that you are going to have to make a certain amount of money during retirement to meet these expenses. While ensuring adequate income is important, reducing debt is something that could be a big piece when you are planning for retirement. For instance, you may want to consider taking consistent steps toward reducing your mortgage debt. Over the course of the loan, you pay a significant amount of interest which could eventually … [Read more...] about Reducing Debt Can Be A “Big Piece”
Saturday’s Charlotte Estate Planning Seminar Rescheduled
Due to some expected icy conditions, the Legacy Wealth Planning seminar scheduled for 10am this Saturday at the SpringHill Suites on Johnston Road in the Ballantyne area of Charlotte, NC, has been rescheduled. The estate planning seminar will now be held next Saturday, January 30 at the SpringHill Suites, 12325 Johnston Rd, Charlotte, NC 28277, from 10am-11:30am. More information is available on our seminar page at academydevserver.net/potterlaw/seminars. … [Read more...] about Saturday’s Charlotte Estate Planning Seminar Rescheduled
Estate Tax Strategy for Appreciating Assets
When you have accumulated a significant store of wealth, you can breathe a sigh of relief and enjoy your success. At the same time, you can also gain a sense of satisfaction with regard to your legacy. Your wealth can be passed along to the next generation, and things will be easier for your family going forward. Unfortunately, things can get a little bit complicated by the federal estate tax. This tax can do considerable damage because it carries a hefty 40 percent maximum rate. You cannot … [Read more...] about Estate Tax Strategy for Appreciating Assets
Inheritance Planning: Have You Forgotten Anyone?
When you get serious about inheritance planning, you are probably going to take the matter to heart. After all, you are preparing to pass along inheritances to the people that you love the most, and this is a profound act on many different levels. If we were to suggest that you may forget a loved one, you would probably be surprised. However, many people who have a great deal of love for their families do in fact overlook a valued member. Four-Legged Family Members A significant … [Read more...] about Inheritance Planning: Have You Forgotten Anyone?
TWO TRUSTS TO CONSIDER
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Qualified Personal Residence Trusts & The Estate Tax
Many people are truly amazed when they hear about the details of the federal estate tax. For one thing, this is a tax that is only imposed on some people and who they are varies in a rather random manner. This is due to the fact that there is an estate tax exclusion, the amount of which changes regularly. At the present time it stands at $5 million, but under current laws when 2013 rolls around the estate tax exclusion will go down to just $1 million. Right now the rate of the tax is 35%, but … [Read more...] about Qualified Personal Residence Trusts & The Estate Tax
The Negative Inheritance
If your parents fail to prepare for old age and the possibility that they may need extended care at some point, or if you are not prepared to care for your parents, it is very possible that the only inheritance that you will receive is a negative one. A negative inheritance is basically when the cost of caring for an ailing parent exceeds any inheritance that you may receive from that parent when they pass away. The cost to children that care for their aging parents includes not just financial, … [Read more...] about The Negative Inheritance
