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Blog Entries - Wealth Management

Trump's Tax Bill - How does it effect Estate Taxes

The new tax bill known as “Tax Cuts and Jobs Act of 2017” includes significant changes to the federal estate, gift and generation-skipping transfer (“GST”) tax laws, which became effective January 1, 2018. 

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Calculating the Required Minimum Distribution for ANY Beneficiary of an Inherited IRA

CALCULATING THE REQUIRED MINIMUM  DISTRIBUTION FOR ANY INHERITED IRA BENEFICIARY FACTS  Thelma dies and names John (non-spouse) as beneficiary on her IRA beneficiary form.  A new account is created for John titled

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No Estate Tax in Ohio?

The Ohio Estate Tax was repealed January 1, 2013.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

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History of the Federal Estate Tax

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

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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

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Presentation of a Claim in an Estate

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

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