Blog Entries - tag: 'Kentucky'

No Estate Tax in Ohio?

Posted on: August 1, 2017
Tags: Wiils, Trusts, Estate Planning, Cincinnati, Ohio, Kentucky, Wealth Management
The Ohio Estate Tax was repealed January 1, 2013.  The Federal Estate tax has an exemption of 5.49 million (Indexed for inflation).  You could, nevertheless, still be subject to estate taxes if you inherit from someone who lives in a state that read more …

History of the Federal Estate Tax

Posted on: May 18, 2017
Tags: Wiils, Trusts, Estate Planning, Cincinnati, Ohio, Kentucky, Wealth Management
Federal Estate Tax History. An estate tax is a tax levied on an heir's inherited portion of an estate if the value of the estate exceeds an exclusion limit set by law.  The estate tax is mostly imposed on assets left to heirs, but it does not apply to read more …

Changes in Ohio Probate Law

BILL SUMMARY - Ohio Legislative Service Commission Probate Law -Specifies that a will deposited by or for the testator in the office of the judge of the probate court of the county in which the testator lives may be so deposited before or after the read more …

Presentation of a Claim in an Estate

Posted on: April 19, 2017
Tags: Wiils, Trusts, Estate Planning, Cincinnati, Ohio, Kentucky, Wealth Management
Estate Claim Must Be Presented Directly to Executor/ Administrator THE RULING: The Ohio Supreme Court ruled that Ohio law requires a claim against an estate to be filed within six months after the death of the decedent mailed directly to the Executor or read more …

Probate

Posted on: April 21, 2016
Tags: Wiils, Trusts, Estate Planning, Cincinnati, Ohio, Kentucky, Wealth Management
In re Estate of Harmon In action against executor for recovery of assets of estate, trial court had jurisdiction to render a summary judgment to plaintiff where the judgment covered use of funds by executor, even though some of the funds were used to improve read more …

ROTH PROPOSAL

Posted on: April 5, 2016
Tags: Wiils, Trusts, Estate Planning, Cincinnati, Ohio, Kentucky, Wealth Management
OBAMA's PROPOSED 2015 BUDGET: Mandatory ROTH Required Minimum Distributions (RMD) The rule to impose RMDs would bring Roth IRAs into line with traditional IRAs, which already require mandatory distributions at age 70 1/2.  All qualified distributions read more …

PROBATE BATTLE

Posted on: March 22, 2016
Tags: Wiils, Trusts, Estate Planning, Cincinnati, Ohio, Kentucky, Wealth Management
BUSINESS SUCCESSION PLANNING IS EXTREMELY IMPORTANT BUSINESS MANIPULATION TURNS INTO 547 MILLION DOLLAR JUDGMENT Reproduction of an Article from the Cincinnati Enquirer by Andrew Wolfson, @adwolfson9:09 a.m. EDT March 22, 2016 In a read more …

Settlor's Intent

Posted on: March 4, 2016
Tags: Wiils, Trusts, Estate Planning, Cincinnati, Ohio, Kentucky, Wealth Management
Effectuating a settlor’s intent is supposed to be a primary guiding principle of trust law. For centuries, courts have stated that their primary purpose in a trust case is to give effect to the “settlor’s intent.”1 Yet, the read more …