A will can be a valuable component of any estate plan since it helps expedite the probate process. By making your last wishes known, you’ll make it easier for the court to make sure your property is divided appropriately. However, there are some items that really don’t belong on your will, either because they’d complicate the disposition of your estate or because it’s simply unnecessary to mention them.
Here, we’ll look at a number of items that you typically should not put on your will.
Real estate investors may at times find themselves looking at properties that meet their requirements in all but one aspect—zoning. The zoning laws that apply to a given piece of property can restrict what you do with it, and it may be tempting to try to rezone it.
Here, we’ll go over the factors to consider before trying to rezone a property.
Cryptocurrency and the IRS
As Bitcoin, Ethereum, Zcash, and other forms of virtual currencies become more and more prevalent, many people have begun facing the tax implications of their trading, buying, and selling activities on the blockchain. Numerous individuals have accumulated a great deal of wealth thanks to this new technology, and the IRS has taken notice.
As the technology and the usage thereof develop, so too will the codes and rules set forth by the IRS over how this type of income should be reported and taxed. When it comes to planning for the tax implications of buying and selling cryptocurrencies, making an ICO, or engaging in other business transactions involving blockchain technology, you need an attorney who is both experienced in tax law as well as up-to-date on the latest developments.
Charitable Trusts – Laws to Consider
At the heart of a charitable trust is the leaving of your legacy to causes you wish to support. This type of trust is an excellent way to give back to the community while also minimizing the tax exposure of your estate. However, in order to give maximally and keep your estate’s tax burden down, it must be properly constructed. This way, it will adhere to the laws governing tax exempt status.
The Charitable Trust Act
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