Selecting a financial planner for your financing is a very important decision. Please enter your information below to locate a qualified financial planner in your area
Estate Planning News
FAA Today Proposed A Series Of Significant Upgrades To Aircraft Black Boxes
WASHINGTON, DC. The U.S. Department of Transportation’s Federal Aviation Administration (FAA) today proposed a series of significant upgrades to aircraft "black boxes" that will increase the quality, quantity, and survivability of recorded data.
Stronger cockpit voice recorder and flight data recorder standards that require newer recording technology and greater recording frequency will ensure that more valuable data is retrieved from aircraft incidents and accidents, FAA Administrator Marion C. Blakey said.
Under the proposed rules, all voice recorders must record the last two hours of cockpit audio instead of the currently required 15 to 30 minutes. Also, a 10-minute independent backup power source for the voice recorders would be required to allow recording even if all aircraft power sources were lost or interrupted. Voice recorders also would have to use technology other than magnetic tape, which is vulnerable to damage and decreased reliability, Blakey said.
Airplanes (but not helicopters) currently in service would have to retrofit some of the equipment within four years of the rule’s effective date. The rule also mandates these enhancements on all newly built aircraft and helicopters two years from the effective date.
"Good data is often the key to deciphering what went wrong in an aircraft incident or accident," Blakey said. "Increasing the likelihood that recorders yield crucial data improves overall safety by giving us the chance to analyze these events."
The proposed rule also clarifies operating requirements for voice recorders, which would have to operate continuously from when pilots begin their checklist before starting the engines until completion of the final checklist when the flight ends.
The FAA is proposing that data recorders measure the aircraft’s primary flight control movements, and how hard the pilots move the controls, more frequently than is now required. The data recorders also would be required to retain the last 25 hours of recorded information. These provisions would affect newly manufactured aircraft starting two years from the rule’s effective date.
The proposed rule formalizes current FAA policy that both types of recorder be housed in separate units (excluding helicopters) and that no single electrical failure disable the recorders.
The proposed rule, published in today’s Federal Register, affects manufacturers and operators of airplanes and helicopters holding certificates for aircraft with 10 or more seats. The FAA estimates that the total cost to operators and manufacturers would be approximately $256 million in today’s dollars.
A "Family Limited Partnership" can be used to own and manage your property
In a similar manner to a Trust, but allowing additional tax planning techniques to be employed. Family Limited Partnerships are typically used for those who have large estates and thus have a need for specialized estate planning in order to minimize federal and state estate/death/inheritance taxes as well as provide elements of asset protection.
Newsroom
Latest news about Financial & Estate Planning in Plano and nationwide:
Definition:
The total of all assets, all debts and other obligations of an individual. At the time of death the total amount of benefits (life insurance, annuity and retirement benefits) to be paid to beneficiaries are often also considered part of the estate for Federal Estate Tax purposes
Will
Definition:
A written document that provides instructions for disposing of a person's property upon the person's death. A will generally also names an executor or personal representative to handle the estate.
Federal Estate Taxes
Definition:
Taxes imposed by the US Government on the value of a person's estate upon his or her death.
Legal Disclaimers All attorney listings are a paid attorney advertisement, and do not in any way constitute a referral or endorsement by an approved or authorized lawyer referral service. The information provided on Plano Estate Planner.com is not intended to be legal advice, but merely conveys
general information related to legal issues commonly encountered. Your access
to and use of this website is subject to additional Terms
and Conditions.