We will not go into much detail on buying property in the UK for a few reasons. Firstly, if you’ve just arrived in the country, no lender will do business with you for several years until you’ve established a credit record. Secondly very few people arriving in the UK have sufficient money to [...]
Archive of entries posted on May 2009
Taxing Joint Tenancy Property
Generally, the value of all joint tenancy property is included in the estate of the first joint tenant to die, except for the proportion the executor can prove was contributed to its acquisition by the surviving joint tenant and/or as a gift by a third party to the credit of the surviving joint tenant. If [...]
Federal Gross Estate
The federal estate tax is a tax on all property of a deceased person. The reader should be aware that these provisions are subject to change. The Economic Recovery Act of 1981 made major changes in the estate and gift tax laws. Additional changes were made more recently. The Economic Growth and Tax Relief Reconciliation [...]