Category Archives: Probate Administration

The Queen of Soul Did Not Have An Estate Plan

Estate Planning, Probate AdministrationBy Kerry Reilly August 23, 2018

“Deeply private in life, Aretha Franklin’s estate will be laid bare for all to see, as according to court documents, she died without having a will or trust in place.” Aretha Franklin’s net worth is estimated at $80M and the State of Michigan will decide how it’s distributed and anyone who wants to can read…

IRS Announces Inflation Adjustments for 2016

Probate AdministrationBy Alison Simons January 19, 2016

Rev. Proc. 2015-53 Income Tax: Highest Tax Bracket for Estates and Trusts. An estate or trust will be subject to the highest income tax bracket and Medicare surtax if taxable income exceeds $12,400 (increased from $12,300 in 2015). Gift Tax: Annual Exclusion for Gifts. The annual exclusion for gifts remains at $14,000 for 2016. Annual…