Sentences with phrase «estate of a decedent»

The tax for estates of decedents dying on or after January 1, 2013 but before January 1, 2016 is computed as follows:

For estate of decedents dying on or after January 1, 2013, but before January 1, 2016, the annual Maine exclusion amount is $ 2,000,000.

Represented a safety and compliance consulting company in high - exposure automobile death case filed by estate of decedent against multiple involved parties.

Estate of a decedent in Louisiana, in the U.S. Court of Federal Claims, with respect to valuation and administration expense issues

* Executors for estates of decedents who died in 2010 had the option of electing to use the 35 % rate, $ 5 million exemption, and «stepped up» basis of inherited assets for income tax purposes or zero estate tax liability with «carry over» basis of inherited assets for income tax purposes.

They may also administer estates of decedent, assist in general litigation, prepare sample pleadings, perform legal research, draft interrogatories, and nortarize documents.

The great thing about life insurance is that the death benefit is paid out income tax free and not necessarily tax free altogether as life insurance proceeds are typically included into the gross estate of the decedent (the deceased) and are thus subject to estate taxes (sometimes called «death taxes»).

Estates of decedents in the Southwest and Northeast, with respect to family limited partnership issues

For estates of decedents dying on or after January 1, 2016, but before January 1, 2017, the annual Maine exclusion amount is equal to the federal annual exclusion amount.

The great thing about life insurance is that the death benefit is paid out income tax free and not necessarily tax free altogether as life insurance proceeds are typically included into the gross estate of the decedent (the deceased) and are thus subject to estate taxes (sometimes called «death taxes»).

The Maine taxable estate is equal to the federal taxable estate plus taxable gifts made during the one - year period ending on the date of the decedent's death and the value of Maine elective property, and, for estates of decedents dying before January 1, 2016, decreased by any Maine QTIP property.

Probate: The legal process wherein the estate of a decedent is administered, which includes the process of proving validity of a will in court and executing its provisions under the guidance of the court.

The complete interest is included in the estate of the decedent.

Estates of decedents who die during 2017 have a basic exclusion amount of $ 5,490,000, higher than the $ 5,450,000 for estates of decedents who died in 2016.

A disclaimer is an irrevocable refusal by a potential beneficiary to accept a gift or bequest from the estate of a decedent.

The personal representative in Michigan, also known as an executor, is the person qualified by the probate court to administer the estate of a decedent.

Under the New Jersey Wrongful Death Act, the estate of the decedent may bring a lawsuit against the negligent person or parties responsible for the untimely death of their loved one.

When someone dies, either with or without leaving a will, there are a number of tasks to be completed in administering the estate of the decedent: the identification, inventory and appraisal of property; transferring title to property, paying debts, completing tax forms.

A wrongful death claim can be — and often is — brought by a personal representative of the estate of the decedent.

Likewise, a claim can be brought by the estate of the decedent for his or her Illinois wrongful death.

It may become fatal, in which case the estate of a decedent may pursue «wrongful death» claims.

In New York, wrongful death actions are filed by the estate of the decedent (deceased person) and any verdict or settlement is awarded to the victim's estate to be divided according to the terms of the court's order.

Most states have survival statutes that allow the estate of the decedent to sue for damages suffered in an accident before he or she dies.

The estate of the decedent steps into the shoes of the decedent and the executor of the decedent's estate can enforce the lease.

On a final note, there are examples when taxes don't need to be filed or paid by the estate of a decedent.

A support obligation does not terminate upon the death of the supporting parent, although a claim must be filed against the estate of the decedent.