Most people have heard of the dreaded estate tax; some even refer to it as the "death tax." Lawmakers often speak about repealing this tax. This issue will likely come up again for debate during the upcoming presidential election next year. With the recent tax season over, now would be a good time to focus on tax and estate planning that could mitigate the effects of federal tax consequences befalling your heirs. Call our office in St. George, Cedar City, or Kanab, or chat online with a representative here on our website to make an appointment to speak with our tax and estate planning attorney, Cameron Morby. In the meantime, you can read more about the politics involved with this issue by taking a look at this article: http://www.deseretnews.com/article/765671871/FACT-CHECK-Estate-tax-hits-fewer-than-1-percent-of-estates.html
April 2015 Archives
Let's face it, procrastination is part of the human condition. "Never put off until tomorrow what you can do the day after tomorrow," said one of America's greatest wits, Mark Twain. We prefer an enduring saying by Benjamin Franklin, however: "You may delay, but time will not."
Before you sit down for an initial consultation with your St. George estate planning law firm, you might well be asked to fill out a form. The form is typically straightforward, seeking to get from you information about who you are, an overview of your assets, and most important, an idea of what you would like to do with those assets when you pass on.
The nine "most terrifying words in the English language," according to one of President Ronald Reagan's favorite jokes, were these: "I'm from the government and I'm here to help." The line never failed to get an appreciative laugh. Of course, few pointed out to the president that he, too, was from the government and was there to help.