Sentences with phrase «estate tax liability upon»
By transferring sufficient assets to the surviving spouse in the proper manner, estate tax liability upon the first spouse's death can be completely avoided.
https://www.rocketlawyer.com/ Not exact matches
It finally turned to the joint and several liability rule under the Income Tax Act, which says that upon the death of the annuitant of a RRIF, the annuitant (or the annuitant's estate) and any recipient of RRIF proceeds are «jointly and severally liable to pay a part of the annuitant's tax» on the RRIF for the year of the annuitant's deaTax Act, which says that upon the death of the annuitant of a RRIF, the annuitant (or the annuitant's estate) and any recipient of RRIF proceeds are «jointly and severally liable to pay a part of the annuitant's tax» on the RRIF for the year of the annuitant's deatax» on the RRIF for the year of the annuitant's death.
Estate planning — Life insurance can provide funds for estate taxes and other liabilities upon your death, and may help your survivors avoid the sale of a home or business in order to meet those obligaEstate planning — Life insurance can provide funds for estate taxes and other liabilities upon your death, and may help your survivors avoid the sale of a home or business in order to meet those obligaestate taxes and other liabilities upon your death, and may help your survivors avoid the sale of a home or business in order to meet those obligations.
Estate planning — Life insurance can provide funds for estate taxes and other liabilities upon your death, and may help your survivors avoid the sale of a home or business in order to meet those obligaEstate planning — Life insurance can provide funds for estate taxes and other liabilities upon your death, and may help your survivors avoid the sale of a home or business in order to meet those obligaestate taxes and other liabilities upon your death, and may help your survivors avoid the sale of a home or business in order to meet those obligations.
That means you may have to report the transfer on your taxes and it could add to your estate's tax liability upon your death — again, assuming that the value of your estate and your gifts exceeds the $ 5.49 million figure.
Regardless of whether an annuity owner's beneficiary is a spouse or non-spouse, upon his death the entire account value is included in calculating estate tax liability.
Most capital assets — such as real estate, art, or securities — only create tax liability upon sale.