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Sharon Ravenscroft Estate Planning Blog

Welcome to my blog covering all things estate planning, family estate planning. business planning, wills, trusts & probate.

New laws for IRAs

Effective in 2020, there are changes that apply to a qualified retirement account such as IRA or 401k. Designated beneficiaries will be required to di...
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2020 Tax Exemption Increased

  In 2020, the estate tax exclusion increases to $11.58 million. The present gift exemption remains at $15,000. Most Americans can avoid any tax ...
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Updated Estate Tax Exclusion for 2019

In 2019, there will be an increase in the amount that can pass estate tax free -- one person can now pass a total of  $11.4 million during life a...
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New statutory changes have made doing business as an LLCs easier.

The statutes that govern a limited liability company ("LLC") have been updated in total. Chapter 7 of Title 10 now replaces the prior statut...
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Estate Tax Exclusion changes.

The estate tax exclusion has doubled with the new federal tax law which was passed this December 2017.A single person can now pass $11.2 million estat...
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What if I don't have a Will?

Protecting Families with an Estate Plan.  Most people think of Wills and death when they think of estate planning. However, the distribution of a...
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Twelve Top Ways to Use a Revocable Trust

As of the new year, the IRS raised the amount that can be passed estate tax free to $5.5 million. Each person can give this total amount as a gift dur...
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Does my trust need its own Tax Identification number?

​ If your trust is a revocable trust then your social security number can be used for any accounts titled in the name of the trust. You will not ...
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When visiting family, do I show them my Will?

When visiting family, do I show them my Will?
This holiday season when you're visiting your family you may be thinking that you want to talk to them about your estate plan: like your will or your trust or your powers of attorney. I recommend that my clients only tell their families where their original documents are and who their attorney is. If you give them copies at your holiday gatherings
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Avoiding Probate Guidance

Keeping the court out of your assets and business is not difficult but does require certain steps. Be sure all accounts in your name have a pay on dea...
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