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January 30, 2012

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Estate Planning News

IRS Plans To Reduce Estate Tax Lawyers

Washington, D.C. - The Internal Revenue Service (IRS) plans to reduce by nearly half the number of tax attorneys assigned to audit estate tax returns. By the end of September 2006, under the Bush Administration’s plan, the IRS will terminate 157 estate tax lawyers and 17 support staff.

Contact our Baltimore estate planning attorney now.

Did You Know?

A Will, is sometimes called a "Last Will and Testament"
Used to transfer property you hold in your name to the person(s) and/or organization(s) you want to have it. A Will also typically names someone you select to be your Personal Representative (or "Executor") to carry out your instructions and names a Guardian if you have minor children. A Will only becomes effective upon your death, and after it is admitted to probate.

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	Latest news about Financial & Estate Planning in Baltimore and nationwide: Dems Obstruction Of Death Tax Repeal Harmful Coleman says repeal legislation deserves a vote June 8th, 2006 - Washington, D.C. - Senator Norm Coleman today expressed his... Read more > Establishing A Trust Fund A trust is a separate legal entity that holds property or assets of some kind for the benefit of a specific person, group of people or organization... Read more > More Estate Planning News >

Estate Planning Terms

Today's Terms

Trust

Definition:
A long recognized legal concept (first used in ancient Greece during the times of Socrates and Plato) in which some or all property of a Trust Creator is held on behalf of a beneficiary (which may include the trust creator) in the name of the Trustee.

Transfer Tax

Definition:
The combined Federal Estate and Gift tax. A single exemption credit applies whether the property was transferred during a person's lifetime (gift tax) or is held by a person at the time of his/her death (estate tax).

Grantor

Definition:
The person who sets up or creates the trust; also called a Settlor, Trust Creator, Trust Maker, or Trustor.

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Estate Planning Resources

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Estate Planning Hot Topics

Topics Related to Estate Planning:

Trusts
Wills
Uniform Probate Code
Gift Tax

Baltimore Estate-Planning Attorney

If you live in the following cities and need an Estate-Planning attorney you should contact our Estate-Planning Attorney as soon as possible:

Annapolis
Baltimore
Capitol Heights
Catonsville
Columbia
Cumberland
District Heights
Dundalk
Elkton
Ellicott City
Essex
Fort Washington
Gaithersburg
Germantown
Glen Burnie
Gwynn Oak

Hagerstown
Hyattsville
Lanham
Lutherville Timonium
Middle River
Nottingham
Owings Mills
Parkville
Pasadena
Potomac
Rockville
Silver Spring
Sykesville
Temple Hills
Upper Marlboro
Westminster

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