That last will and testament you have tucked away? It may not be the last word on what happens to your stuff after you are gone. Instead, that legal document’s directives for doling out your wealth may be overruled by other paperwork and relevant laws.
We’re all looking to save taxes, court costs, legal fees and ‘make it simple’ for our heirs. A last will and testament is the cornerstone of all estate planning, maybe with a trust.
The Internal Revenue Service Today announced new inflation-adjusted limits for 2023 that will allow well-off individuals to transfer much more to their heirs tax free during life—or at death.
Robert, the older brother, and Lon, the younger one, were close as they were growing up in the Queens borough of New York City. However, when their mother passed away and left the bulk of her estate to Robert, Lon was devastated.
