Estate tax: value closely held business Date: The valuation date is the date of the decedent’s death. An alternate date six months later may be elected but only if it decreases both the estate and the tax. If an alternative date is used, that date will be used for all assets of the estate. The…
ESTATE TAX Valuation continued: Listed securities: The mean between the day’s highs and lows on the valuation date is used. If the shares are sold ex-dividend, the amount that the estate will receive is used. The valuation of bonds includes the interest to the valuation date. Restrictions to or an impediment to sale can result…
Compassionate Wilkes-Barre, PA bankruptcy Attorney C. Stephen Gurdin Jr. both assists you with your current financial situation, and helps you plan for a better future one, working with you to: Rebuilding Your Credit …Determine if you are eligible for Chapter 7, Chapter 11 or Chapter 13 Bankruptcy Learn what property is exempt Strategize how to…
The automatic stay Upon filing of a bankruptcy certain actions of creditors are automatically stayed from collecting pre-filing claims.. This stay serves two main functions. First, it allows the debtor some breathing space to see if it can reorganize and retain some or all of the assets, continue its business, stop foreclosure, resume mortgage payments….
ESTATE TAX: a tax on transfers, technigues to minimize tax and preserve assets The estate tax is imposed on the privilege of transferring property by will, or through an estate without a will or by operation of law. The maximum estate tax rate is 40% after 2012 and applicable exclusion amount is $5 million indexed…
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