You may love your son-in-law or daughter-in-law now, but that could change down the road. So, if you don’t want your money going to your child’s future ex, here’s what you should do.
Leaving behind a home for a loved one to inherit is a huge gift, but without the right planning, it could be an equally large headache.
How can you prepare your children to handle the assets they’ll eventually inherit?
I’m a beneficiary to my brother’s estate in New Jersey. My younger brother, the executor, is also a real estate broker. When he sold two properties from the estate, he paid himself real estate commissions totaling about $75,000. He never accounted for the rents on the real estate for the two years he managed the properties. Can he do this, and do I have any recourse?
We have all heard the saying ‘plan your work and work your plan.’ Planning is one of the most important aspects of managing any business. This is especially true for farms and agribusinesses, due to their complexity and the inherent uncertainties associated with agriculture.
In addition to the federal estate tax, with a top rate of 40 percent, some states levy an additional estate or inheritance tax. Twelve states and the District of Columbia impose estate taxes and six impose inheritance taxes. Maryland is the only state to impose both.