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July 05, 2008

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Estate Planning News

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Did You Know?

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.

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	Latest news about Financial & Estate Planning in Plano and nationwide: Winn-Dixie Stores, Inc. Files For Chapter 11 Reorganization To Address Financial And Operational Challenges JACKSONVILLE, FL, FEBRUARY 21, 2005 - Winn-Dixie Stores, Inc. (NYSE: WIN) announced today that, in order to address the financial and operational c... Read more > The Changes Introduced Today Will Mean That Disabled People Will Be Able To Make A Positive Contribution Reforms to Incapacity Benefit announced today were welcomed by the Disability Rights Commission (DRC). DRC Chairman Bert Massie said that ... Read more > FTC Settles with Marketers of Bogus International Driver’s Licenses s settled FTC charges today that they fraudulently marketed purportedly authentic International Driver’s Permits (IDPs) on the Internet. Under the ter... Read more > More Estate Planning News >

Estate Planning Terms

Today's Terms

Fiduciary

Definition:
A person in whom one places great confidence in and upon whom one relies for his or her integrity, trust, and good faith. A fiduciary has the legal duty to act in the best interest and benefit of another and therefore is held to the very highest legal standards. A trustee is a fiduciary.

Trust

Definition:
A long recognized legal concept (first used in ancient Greece during the times of Socrates and Plato) in which some or all property of a Trust Creator is held on behalf of a beneficiary (which may include the trust creator) in the name of the Trustee.

Family Limited Partnership

Definition:
A legal partnership agreement between members of a family for the management and control of property for the benefit of family members. Sometimes used to minimize transfer taxes.

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Estate Planning Hot Topics

Topics Related to Estate Planning:

Trusts
Wills
Uniform Probate Code
Gift Tax

Plano Estate-Planning Attorney

If you live in the following cities and need an Estate-Planning attorney you should contact our Estate-Planning Attorney as soon as possible:

Alvin
Amarillo
Arlington
Austin
Baytown
Brownsville
Burleson
Carrollton
College Station
Cypress
Dallas
Del Rio
Desoto
Eagle Pass
Edinburg
El Paso
Flower Mound
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Friendswood
Garland
Grand Prairie
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Harlingen
Houston
Irving

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New Braunfels
North Richland Hills
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Round Rock
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Seguin
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Victoria
Weslaco

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