When a person dies with a large estate, taxes can be an unwelcome surprise for many beneficiaries. In some instances, taxes can take a big chunk of the estate. With proper estate planning, however, some of these taxes can be avoided legally and allow beneficiaries to receive the money that was intended for them.
As the parent of a special needs child in Lee County, it is important to take their needs into consideration when you plan your estate. Doing so can ensure that they are taken care of after your death.
Up until recently, only couples in a traditional heterosexual marriage in Lee County could take advantage of certain estate tax breaks. With the recent Supreme Court Decision that overturned the federal Defense of Marriage Act, this has all changed. Now the federal government recognizes and honors unions between same-sex couples. This recognition extends to issues in estate planning.
The entire reason a person writes up a last will and testament is to make his or her wishes known and to ensure that the people he or she wants to receive an inheritance, will actually do so. In recent years, probating a will in Lee County is becoming more and more common, sometimes leading to disregarding the wishes of the deceased altogether.