Sentences with phrase «portion of one's estate»

What portion of the estate value do I get as a result?

The estate tax, often referred to as the death tax, applies to a certain portion of an estate only after it exceeds a certain threshold.

Keep in mind that with option two, a surviving spouse may have legal right to specific portions of your estate.

For financial security, the life insurance portion of estate planning should also consider current debt such as a mortgage or car loan.

Estate taxes are defined as being the tax that is imposed on one's heir's inherited portion of an estate — provided that the value of the estate exceeds a certain amount.

While Cynthia's brother thus secured a larger interest in Cynthia's estate, this victory may be pyrrhic as legal costs will likely eat up a large portion of the estate.

Unbeknownst to him, she had promptly transferred ownership of a significant portion of his estate to herself.

A bequest reduces the taxable portion of an estate and, therefore, may lower federal estate tax liability.

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Robin Williams wisely secured at least one Living Trust, or a revocable trust, for the major portion of his estate to avoid any complications and tax risks — saving his loved ones public headache and stress during such a sensitive time.

The changes mean that anyone planning to leave 4 % or more of the IHT - eligible portion of their estate to charity would leave more for their other beneficiaries by raising the value of the charity legacy to 10 %.

When advising clients who have non-UK connections, some foreign lawyers expect that, under English / Welsh law, a person must leave a specified portion of their estate to certain relatives.

Online marketing materials show the manicured portions of the estate include a rear motor court with access to the six - car garage, meandering lawns and flowering gardens, an orchard, a variety of patios and terraces with panoramic views, an infinity edged swimming pool, separate spa, lighted tennis court with elevated viewing platform, and a three - green golf course complete with sand traps.

Estates with a value of more than $ 15.53 million will pay the top marginal rate (but only on the portion of the estate that exceeds that amount).

The list of business tycoons who plan to leave only a portion of their estates to their kids includes, from left, Bill Gates, Warren Buffett and Ted Turner (not pictured).

Although the inheritance tax was abolished the government has found ways to get a portion of the estate of a deceased person.

In your Will, you can designate a specific amount of money, a piece of property, a percentage or portion of your estate, or you can leave the entire «residue» of your estate to support the Fraser Institute through the Fraser Institute Foundation.

The Prathers retain a portion of their estate grown fruit for their own winery, Occidental Road Cellars, while sourcing some of the fruit to a few prominent local wineries.

Essentially, the 40 % estate tax rate applied only to the portion of an estate that was valued at $ 5.59 million or more per individual, or $ 11.18 million per married couple.

He says that in addition to a marriage contract you would draft «a set of complementary mutual wills in which the couple agrees that the surviving spouse will ensure that children from a previous marriage get all or a portion of the estate.»

In the specific case where the estate is worth (this year 2011) more than $ 5M, there may be estate taxes due and the insurance would be prorated to pay its portion of that estate tax bill.

For instance, in 2018, an estate must pay estate tax on any portion of the estate valued above $ 5.6 million.

In Ontario, if your partner dies you do not automatically inherit any portion of his estate.

You also need to stipulate whether the gift was an advance on their inheritance, or in addition to the child's portion of the estate.»

You could simply name a charity in your will to receive some portion of your estate.

The Wilde Puppy Mill Task Force is named in honor of Kenneth and Lillian Wilde, who donated a portion of their estate to The HSUS to help dogs.

Sandra Seamons Estate donates generous gift to A New Beginning Animal Rescue (ANBAR)-- ANBAR Establishes The Sandra Seamons Society Roy, Utah (05/05/2015)-- Song Composer and noted animal lover Sandra Seamons who died last August at the age of 79 bequeathed a portion of her estate to support animal rescue organizations.

«Residue» is a term to describe the portion of your estate that remains after all debts, expenses, and specific bequests to others have first been satisfied.

Song Composer and noted animal lover Sandra Seamons who died last August at the age of 79 bequeathed a portion of her estate to support animal rescue organizations.

A bequest can be made for a specific amount or for a portion of an estate.

We only recently were notified that Larry Wolfe sincerely felt that the mission of APS was important and the care and safety of other animals should be assisted, so much so that he named the organization as a recipient of a portion of his estate.

A bequest under your will or revocable trust instrument describes the portion of your estate that you choose to leave to the APA Adoption Center and should qualify for an estate tax charitable deduction.

BEQUESTS One of the simplest ways to make a planned gift to the Fine Arts Work Center is through a bequest in your will setting aside a portion of your estate.

The Painters & Sculptors Grants were established in 1993 in direct response to artist Joan Mitchell's instructions that a portion of her estate be used to «aid and assist individual painters and sculptors.»

When Mitchell passed away in 1992, her will specified that a portion of her estate should be used to establish a foundation to directly support visual artists.

Sample language: «I give, devise and bequeath to Vote Hemp, Inc., federal tax identification number 52-2551066, P.O. Box 1571, Brattleboro, VT 05302, the sum of $ XXX (or describe the real or personal property or portion of the estate) to be used for its general purposes.»

The portion of an estate or property which is to be distributed after other portions have been disposed of.

This can come in handy, mainly if your prenuptial agreement is based on offering your partner a portion of your estate at a time when you are looking forward to some future earnings, inheritance, etc..

Between now and 2009, that 55 percent rate will gradually fall to 45 percent, and the portion of an estate exempt from tax will increase to $ 3.5 million.