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Blog Entries - Estate Planning
Rights Afforded to a Surviving Spouse in Ohio
In addition to your will, intestate succession (the states will established for people who do not draft their own will) or other non-probate transfers, the Ohio Revised Code (Section 2106) grants special rights to a
The Good Funds Law and Real Estate Closings
The Good Funds Law (O.R.C. Section 1349.21) was amended on April 6, 2017 then amended again on September 9, 2017 to require tighter controls on transactions involving the sale, purchase, or refinance of of
Trump's Tax Bill - How does it effect Estate Taxes
The new tax bill known as “Tax Cuts and Jobs Act of 2017” includes significant changes to the federal estate, gift and generation-skipping transfer (“GST”) tax laws, which became effective January 1, 2018.
Calculating the Required Minimum Distribution for ANY Beneficiary of an Inherited IRA
CALCULATING THE REQUIRED MINIMUM DISTRIBUTION FOR ANY INHERITED IRA BENEFICIARY FACTS Thelma dies and names John (non-spouse) as beneficiary on her IRA beneficiary form. A new account is created for John titled
No Estate Tax in Ohio?
The Ohio Estate Tax was repealed January 1, 2013. The Federal Estate tax has an exemption of 5.49 million (Indexed for inflation). You could, nevertheless, still be subject to estate taxes if you inherit from
History of the Federal Estate Tax
Federal Estate Tax History. An estate tax is a tax levied on an heir's inherited portion of an estate if the value of the estate exceeds an exclusion limit set by law. The estate tax is mostly imposed on assets