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Estate Planning News
Law Day, U.S.A., 2006
America's legal system is central to protecting the constitutional principles on which our Nation was founded. As we observe Law Day, we celebrate our heritage of freedom, justice, and equality under the law.
This year's Law Day theme, "Liberty Under Law: Separate Branches, Balanced Powers," honors the wisdom of the separation of powers that the Framers of our Constitution established for the Federal Government. Delegates to the Constitutional Convention recognized the risks that accompany the concentration of power and devised a system in which the Federal Government's authorities are divided among three independent branches. James Madison highlighted the importance of our Constitution's separation of powers when he wrote, "the accumulation of all powers, legislative, executive, and judiciary, in the same hands . . . may justly be pronounced the very definition of tyranny."
Throughout our Nation's history, we have been reminded repeatedly of the wisdom of the Framers' design. Our system of separation of powers has safeguarded our liberties and helped ensure that we remain a government of laws. Law Day is an occasion for us to celebrate our Constitution and to honor those in the judiciary and legal profession who work to uphold and serve its principles.
Estate planning is a process to consider alternatives
Good estate planning is more than just a simple Will. Estate planning also typically minimizes potential taxes and fees, and sets up contingency planning to make sure your wishes regarding health care treatment are followed.
On the financial side, a good estate plan coordinates what would happen with your home, your investments, your business, your life insurance, your employee benefits (such as a 401K plan), and other property in the event you became disabled or if you die.
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Latest news about Financial & Estate Planning in Missouri and nationwide:
Respondent Vigorously Argues
Respondent vigorously argues that this Commission lacks jurisdiction because of the doctrine of preemption. We find the Respondent's reliance on th... Read more >
Definition:
The value of an estate before the debts are paid. In California Probate statutory attorneys and personal representatives fees are usually calculated based on the gross value of the estate, so that the value of the home is calculated before deducting the amount due on the mortgage.
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).
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