Practice: Estate Planning and Administration
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Estate Planning and Administration
Estate Planning – Why is it Important to Include your Family Business in Your Estate Plan?
- February 24, 2016
- By Allen & Gooch
1) Is your business your largest asset? The first reason to include your business in your estate planning is that it is likely one of your most valuable assets. The business may be the asset most likely to create potential tax consequences based on its value. Would it be valuable to remove portions of the […]
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Estate Planning and Administration
Federal Estate Tax Exemptions and “Portability”
- January 2, 2014
- By Allen & Gooch
American Taxpayer Relief Act sets new federal estate tax exemption The American Taxpayer Relief Act set the new federal estate tax exemption at $5.25 million per decedent, or $10.5 million for a married couple. In addition, the new “Portability” provisions allow the estate of a deceased spouse who doesn’t use all of his $5.25 exemption […]
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Estate Planning and Administration
Succession Representative Can Grant Mineral Leases Without Consent
- September 11, 2013
- By Allen & Gooch
Consent of Heirs Not Required for Mineral Leases InDavis v. Prescott, 47,799 (La. App. 2 Cir. 2/27/13), 110 So.3d 625, the Louisiana Second Circuit Court of Appeal addressed whether a succession representative was able to grant a three-year mineral lease without the consent of the heirs. The Appellate Court reversed the decision of the trial […]
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Estate Planning and Administration
Update Your Will: Reasons Why it May be Time to Revisit
- September 3, 2013
- By Allen & Gooch
Is it Time to Update Your Will? Here are some important reasons why you should revisit and update your old Last Will and Testament: Independent Administration. A big part of estate planning used to be “How to Avoid Probate” – that is, how to make sure that legal fees and court costs don’t eat up […]