New Glossary Terms

State Death Tax Deduction
A deduction is permitted in 2010 in the amount of state death taxes if the estate is subjected to estate tax (instead of the carryover basis rules) and in later years. This deduction had previously been available in...
Last Deceased Spouse
On your death, if your previously deceased spouse had not used his or her estate tax exclusion you may, under the new portability concept, be permitted to take advantage of that unused exclusion. To assure that your...
Indexing
The estate tax “Basis Exclusion Amount” is to be indexed for inflation (from 2010) beginning in 2012. If the estate tax relief provisions are not extended, that will be the only year of increase since the law revert...

New Question & Answers

Deed versus Will

December 10th, 2009

All five children (myself and my siblings) are in our parents will, but only 3 are on the deed to their home. Would the to remaining two siblings who aren't on the deed be entitled to any money from the estate from the sale of our parents house? It is being sold because are parents have recently passed away. Read the Answer…

Powers of attorney

December 3rd, 2009

I was told that since I have a multiple sclerosis I should sign an general power of attorney and not use a springing power. What does this all mean and why and how is it different from the power of attorney a lawyer prepared for me years ago before my diagnosis? Read the Answer…

Residual disability - private disability claim

December 3rd, 2009

I was diagnosed with MS and because of complications I have to cut back at work. I was told I should file a claim with my private disability company even though I will be able to work as i might qualify for what they called residual disability benefits. Any suggestions? Read the Answer…