Even individuals with modest estates purchase life insurance which means that Estate Planning attorneys must understand the rules regarding taxation of life insurance. Retention of certain powers or certain transactions could cause negative income, gift, or estate tax consequences. My friend and colleague, Tereina Stidd, an estate planning expert, has a nice piece on these powers. Read on to learn more.
Timothy P. Murphy is an estate planning and elder law attorney whose practice emphasizes helping people to build, preserve and pass on their wealth. He works with his clients to accomplish their goals while avoiding unnecessary court proceedings and minimizing or eliminating exposure to death taxes Read More!
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