#revocable living trust attorney

[lutzelbroadway]

The process of revocable living trust in Charlotte, NC

When you pass away, the revocable living trust you had established will appear as a rulebook to handle your trusts. No wonder it is so important! And that’s why you need to hire a professional for revocable living trust in Charlotte, NC. Learn about their services and approach of the team through this link: https://www.lutzelbroadway.com/. Ask about the process and other aspects from their experts by giving a call at 704.799.3570.

[robertlaw]

Explore the benefits of revocable living trusts for seamless estate planning. Secure your legacy with flexible and effective trust solutions. For more information schedule a free consultation with our experienced revocable living trust attorney in Vancouver, WA.

[citadellawfirm]

Can You Avoid Probate Without a Trust in Arizona?

https://clfusa.com/probate/avoid-probate-without-a-trust-in-arizona/

[kamilahhendersonlaw]

What To Do When a Disability Throws Your Estate Plan Into Chaos

As poet Robert Burns mused centuries ago, “The best-laid plans of mice and men often go awry.” Despite thoughtful effort and a concerted strategy, you cannot prepare for every emergency. A car accident, sudden illness, workplace injury, or chronic medical condition can force you to re-evaluate the core assumptions you used to plan your future and set up your legacy. For more information click here.

[davidl2001]

The Role of Trusts in Minimizing Estate Taxes: Strategies for Savvy Planners

Trusts Estate taxes are often a looming concern for those with significant assets. They can diminish the wealth you wish to pass onto your loved ones, but the judicious use of trusts can offer a shield against this financial drain. Here are the essential strategies to leverage trusts and effectively minimize estate taxes. 1. Revocable Living Trusts: The Foundational Shield Establishing a…

[jamesajoneslaw]

If you are wondering how to create a living trust in Washington, consulting with an experienced revocable trust lawyer in Tacoma, WA, is necessary. For more information contact us at 2538437180.

[nhlegalforms]

Get all the information you need to feel confident in your legal decisions with NHLegalForms.com. In this video, we'll explore the benefits of using this user-friendly online platform for all your legal form needs. NHLegalForms.com is the perfect solution for anyone looking to simplify the process of finding and completing legal forms. With a comprehensive selection of forms, including everything from power of attorney to living wills, this platform makes it easy for anyone to take control of their legal affairs. The user-friendly interface and step-by-step guidance make it simple to find the right form for your needs and complete it accurately. Don't wait to take control of your legal affairs. Visit NHLegalForms.com today and get the peace of mind you need. And after watching this video, don't forget to like, subscribe, and share with your friends.

[executorofwillandestate]

This blog highlights the primary estate planning considerations, their significance, and essential elements of a will.

[exitrowiron]

I am a low-key birthday person. Unlike those for whom their birthday is a VERY BIG DEAL, I never took the day off work and don’t have high expectations. I had a nice call with the kids and dinner at the town’s fancy restaurant with Beth. In honor of my birthday, my Togo charity received a few donations and I’m looking forward to using my new hiking poles. All in all, a very nice day.

Earlier in the week Beth and I addressed one of the tasks associated with advancing age: estate and healthcare planning. We’d done some of this years ago when we lived in Minnesota and the kids were young, but we needed to update it now that we live in Washington.

My parents did a good job with these tasks and I want us to do the same for our kids. We now have updated Healthcare Directives (Living Wills), Durable Power of Attorney (General and Healthcare), Wills and a Revocable Living Trust. The objectives of the trust are to avoid probate, protect assets for the benefit of heirs and minimize estate taxes.

We used an attorney to do the work but you could probably do it yourself with an online service. One benefit of using an attorney is that we now have this nice binder with all the information in one place. The only remaining step is to ‘fund’ the trust by transferring and retitling assets to the trust.

A lot of people get really worked up about estate taxes. Washington has high estate taxes, some states don’t have any. Washington doesn’t have income taxes so it only seems fair to have an estate tax we don’t mind paying our fair share.

[lutzelbroadway]

Revocable living trust services by Lutzel Broadway

To establish a revocable living trust in Charlotte, NC, you need a trusted team of professionals. You can rely upon Lutzel Broadway Law Firm for your needs. Get more information about revocable trust in Cornelius, NC, visit this link: lutzelbroadway.com. You can call the team for all queries: (704) 799-3570.

[theambitiouswoman]

Hi!

Thanking for answering my ask,

If you don’t mind I would love it if you could get into the tax part, I just want to know as much as I can. 😆

Ok this is fun, prepare to have your mind blown.

I have to disclose that I am not a financial advisor or an accountant <3

Trusts: You want to consider purchasing the properties under a trust. Tax implications can vary under trusts. Revocable living trust will allow you to be treated as the owner, but in an irrevocable trust, it is a separate entity. In some structures, you would only pain capital gains, which can also be transferred to a separate trust, and you do not end up paying capital gains on the property. You do this with a charitable remainder trust. Generally, if a property is held in a trust, rental income generated from that property is typically subject to income tax. The trust itself may be responsible for paying those taxes, or the tax liability might pass through to the beneficiaries, depending on the type of trust and its specific provisions. This will change the amount you would pay in taxes. If the property was purchased as a primary home, there could also be capital gain exceptions depending on the trust. Your income affects the rates you pay on specific trusts. Before I continue, I want to suggest speaking to an actual attorney, not an accountant. Most are not knowledgable or equipped to properly guide you here. Same as with traditional, in a trust you can deduct property related expenses like mortgage interest, property taxes, maintenance costs, and depreciation, from the rental income. This can help reduce the taxable income generated by the property.

IRA's: You can use a self directed IRA or other retirement accounts to invest in real estate. The gain from these investments grow tax deferred within your account. This is something you should also consider doing.

Depreciating assets: Real estate can depreciate overtime. This doesn't include land. But when it depreciates, you can deduct the properties cost. This would offset the income you would pat taxes on.

1031 Exchange: Filing a 1031 will allow you to defer paying capital gains on an investment property when it's sold, as long as another "like kind" property is purchased with the profit gained from the sale.

Mortgage Interest Deduction: Interest paid on mortgages for investment properties can be deducted.

Carry Forward: If your expenses exceed your rental income, you could have a net loss. Some of these losses can be used to offset other taxable income, while others might be carried forward to future years.

Living in the property: If you live in the property for 2 years. you can exclude a portion of the capital gains from your taxable income when you sell.

Opportunity Zones: Opportunity zones offer tax incentives, including deferring and potentially reducing capital gains taxes.

Expenses: All repair expenses can be deducted.

Installments: You can structure your sale to receive payments over time. This spreads out the capital gains and reduces tax impact.

Tax Credits: There are a ton of tax credits for investors. Would research in your state.

More deductions: Interest on a mortgage for an investment property is typically tax deductible, as are property taxes and many other expenses related to the property like Insurance premiums.

Cost segregations: You can hire someone to reclassify certain areas of your property to accelerate depreciation. This will give you a significant upfront tax deduction.

Pass throughs: Certain pass through entities (like LLCs, S Corporations, and partnerships) may be eligible for a deduction of up to 20% of their business income from rental properties.

I can keep going on this, but strongly recommend you read these books:

Loopholes of the Rich: How the Rich Legally Make More Money and Pay Less Tax 

Tax-Free Wealth: How to Build Massive Wealth by Permanently Lowering Your Taxes 

[citadellawfirm]

How Estate Lawyers Can Help You in Arizona?

https://clfusa.com/probate/how-estate-lawyers-can-help-you-in-arizona/

[kamilahhendersonlaw]

Texas Revocable Living Trust | Kamilah Henderson Law Firm

Explore the benefits of Texas Revocable Living Trusts with the guidance of the experienced legal team at Kamilah Henderson Law Firm, PLLC. Call us today!

[freehawaii]

LILI`UOKALANIʻS ROYAL STANDARD TO BE RETURNED TO HAWAI`I

Honolulu Civil Beat - March 19, 2023 - By Denby Fawcett State Archivist Adam Jansen is flying to New York later this month to bring home to Hawaii items from Bonhams auction house related to the overthrow of Queen Liliuokalani. They include Liliuokalani’s Royal Standard, the queen’s personal flag that flew over her Washington Place home in Honolulu on Jan. 17, 1893, the day she was overthrown. According to the queen’s diary, the day after she was deposed, she visited the royal mausoleum and later traveled by carriage to her cottage at Waikiki to take a swim, trying to calm herself from the enormity of what had happened. When she returned to Washington Place, she received a note from the provisional government ordering her to permanently take down her personal flag, which greatly distressed her because she had understood the new government would allow Hawaii’s royal flags to continue to fly. Jansen, who will travel to New York on March 27, said he feels an enormous responsibility as the courier of Liliuokalani’s Royal Standard, which will remain beside him as carry-on luggage on the plane home from New York to Honolulu. “I will be treating the queen’s personal flag as representing the queen herself. It has mana. The flag is an important piece of the story of Hawaii coming back to the people after more than a century,” said Jansen. He will also be bringing back the personal letters and documents of Col. John Soper, who was in charge of the military troops that amassed, banding together to threaten violence if the queen did not step down peacefully. The estate of Abigail Kinoiki Kekaulike Kawananakoa and Damon Estate heiress and philanthropist Brendan Damon Ethington have each donated $30,000 for a total of $60,000 to prevent the historically valuable materials from ending up in the hands of private collectors. Bonhams had initially intended to sell the property in an online auction, but the London-based company stopped that plan after the Hawaii Attorney General’s Office sent a letter saying the items rightfully belonged to the state. However, Honolulu sword and antiques dealer Robert Benson — the owner of the property that had commissioned Bonhams auction house to sell the items — refused to relinquish the documents and the flag. He had purchased them from Soper’s descendants eight years ago in San Francisco. Benson and his wife, Rita, said they were glad worthy parties had purchased the items. “We were their caretakers for a while and are very happy the pieces are going to good homes,” they said Saturday in an email. Attorney Jim Wright successfully negotiated with Benson to buy the Soper documents and the Royal Standard. Ethington then agreed to pay half of the price. Wright is the trustee of Kawananakoa’s revocable living trust. Both parties agreed to subsequently donate the items to the state. Alm said Kawananakoa’s estate became involved because “the princess hated seeing treasures of Hawaiian history put up for sale online.” Kawananakoa, who died in December, held no formal title, but her lineage included the royal family that long ruled the islands. Alm said it drove her crazy to see artifacts and documents important to understanding Hawaii’s history locked up in private collections with no public access. “She wanted people to have the opportunity to live and breathe history,” he said. Benson, the collector who owned the flag and Soper’s papers for eight years, said he was well aware of their historic value. He told me in a phone conversation in October that he had tried many times to get the state archives interested in buying them and had brought them to the attention of Kamehameha Schools, but there were no takers. “Robert Benson is the person who preserved and protected the flag and documents. We have them today because of him,” said attorney Jim Wright. The state archivist has said the queen’s Royal Standard shouldn’t be used as a “war trophy.” That was what happened after the overthrow when Soper took the queen’s flag as his personal property. Soper was the Honolulu businessman Sanford Dole selected to lead the armed troops in the overthrow. After the Hawaiian queen stepped down, Dole made Soper the commander-in-chief of the military forces of the provisional government of Hawaii. Soper later served as the top military leader in the Republic of Hawaii and through the first decade of the Territory of Hawaii. Hawaii became a state in 1959. Jansen said Soper’s writings are enormously valuable and will provide scholars and others new insights from the top military leader of the overthrow and the opportunity to read in his own handwriting his attempts to justify the dethronement of a sovereign monarch. “I am just glad I was able to help the archives get the documents,” said Ethington, whose great-grandfather Samuel Mills Damon was finance minister in King David Kalakaua’s Cabinet. He did not participate in the overthrow but was made vice president and later finance minister of the provisional government that followed. Ethington said as a history major at Yale she became aware of the importance of primary documents to students and scholarly researchers. “There is nothing better than the firsthand documents of the times. They should be protected and available to the public, not in private collections. How will we know what happened if we don’t have access to the actual writing of the people who were there?” she said in an interview. Jansen said once the documents are returned the public will have multiple ways to see them both at the archives and in digitized form on the internet, with hard copies of the documents to be placed in Iolani Palace. Alm said he hopes Liliuokalani’s flag can be returned to Washington Place since it was originally taken from there. But Jansen said that will have to be part of an ongoing discussion because the queen’s former residence lacks the preservation capability of a museum. Jansen said he hopes the return of the queen’s personal flag will make history resonate for the people of Hawaii in a way it might not have before. “It is not just the piece of cloth but who owned it, what it signified. It can never be duplicated,” he said.

[citadellawfirmpllc]

Business Name: Citadel Law Firm PLLC

Street Address: 1767 E. Queen Creek Rd. #1

City: Chandler

State: Arizona (AZ)

Zip Code: 85286

Country: United States of America

Business Phone Number: (480) 565-8020

Business Email Address: contact@clfusa.com

Website: https://clfusa.com/

Facebook: https://www.facebook.com/citadellawfirm

Twitter: https://twitter.com/citadellawfirm

Instagram: https://www.instagram.com/citadellawfirm/

YouTube: https://www.youtube.com/channel/UClWr4mHHOsTGct7DrajZvCQ

Description: Citadel is an Arizona-based law firm serving clients in Estate Planning, Wills and Trusts, Probate, Trust and Will disputes, and Elder Law. We primarily serve Chandler, Gilbert, Mesa, and the East Valley. We are affordable and we would love to help you.

Google My Business CID URL: https://www.google.com/maps?cid=13915479504206914512

Business Hours: Sunday Closed Monday 9:00am-5:00pm Tuesday 9:00am-5:00pm Wednesday 9:00am-5:00pm Thursday 9:00am-5:00pm Friday 9:00am-5:00pm Saturday Closed

Payment Methods: Cash, Check/Cheque, Debit Card, Credit Card, Visa, Master, Amex, Discover We offer finance through Affirm as well

Services: Financial Power of Attorney, Living Will, Trust Administration, Health Care Power of Attorney, Revocable Living Trust, Irrevocable Trust, Last Will and Testament, Probate, Estate Planning, Dynasty Trust

Keywords: estate planning, estate planning lawyer, estate planning attorney, estate planning chandler, estate planning lawyer chandler, estate planning attorney chandler, probate, probate attorney, probate lawyer, probate chandler, probate attorney chandler, probate lawyer chandler, Wills, Wills Attorney, Wills Lawyer, Trusts, Trusts Attorney, Trusts Lawyer

Business/Company Establishment Date: 04-16-2018

Business Slogan: Only an experienced estate planning attorney and probate lawyer can help you!

Number of Employees: 3

Yearly Revenue: USD 100,000-500,000

Owner Name, Email, and Contact Number: David Gerszewski, contact@clfusa.com, (480) 565-8020

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