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An enhanced life estate deed, often referred to as a “Lady Bird” deed, is a legal document utilized in some areas to streamline the transfer of property ownership. ... Tax Benefits: Enhanced ...
An attempt to end the Ohio estate tax was blocked in 2001 when state revenues began to drop and intense lobbying from a league of suburban municipalities lobbied for a continuation of the tax. In 2007, the Ohio estate tax was again proposed for amendment or repeal. A repealing the estate tax of Ohio was enacted by its general assembly during ...
Community property has certain federal tax implications, which the Internal Revenue Service discusses in its Publication 555. [20] In general, community property may result in lower federal capital gain taxes after the death of one spouse when the surviving spouse then sells the property.
Community of Acquests and Gains: Each spouse owns an undivided half-interest in all property acquired during the marriage, except for property acquired by gift or inheritance during the marriage, which is separate property; or which traces to separate property acquired before the marriage, which remains separate property; or which is acquired during a period when the couple are permanently ...
A ladybird deed is a life estate deed that allows for the transfer of property during someone's lifetime without requiring the original owner to give up control of the property. Once the person ...
Divorce is an unfortunate reality of life, as many marriages simply don’t stand the test of time. ... Continue reading → The post Ohio Divorce Laws appeared first on SmartAsset Blog. Skip to ...
A marital life estate is, in the common law tradition of the United States and Great Britain, a life estate held by a living spouse (husband or wife) or widowed spouse, for the duration of that spouse's life.
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