A life estate is a type of property ownership or tenancy that grants an individual the right to use and enjoy a property for the remainder or their life. It gives an ownership interest to someone else.
Nobody likes thinking about what happens if they should become incapacitated or die. However, we all need to have a plan in place for just these possibilities.
It is essential that women do not surrender the responsibility of managing their financial affairs and devising their estate plan to their family … but take complete charge of this important duty.
Federal estate taxes were created in 1916, taxing estates valued at over $5 million. This amount changed to $50 million in 1932. In 1940, it dropped to $10 million, then $5, then $3. In 2002-2007 estates worth more than $2 million paid the tax.
Regardless of your income level or celebrity status, everyone will leave a legacy. And author Michelle Adams helps you to be intentional about building a strong family legacy. Order a copy today!