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Tax Deduction Consulting: Marital Deduction Norfolk NE

While discussing the future, you and your spouse should look into the various federal estate marital tax deductions. Under this tax law, after the death of the first spouse, expenses and interest related to the estate inherited by the surviving spouse is deducted from the passed spouse's estate. Simply, this prevents the survivor from being taxed an unfair amount.

Mr. Chris E. Nelson (RFC®), CFP
(308) 632-7587
1701 First Avenue
Scottsbluff, NE
Company
Valley Financial Planning
Qualifications
Education: University of Nebraska-LincolnThe Metropolitan State College of Denver, CO
Years of Experience: 16
Membership
IARFC, FPA
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Executive Compensation Planning, Retirement Planning, Tax Planning, Employee Benefits, Stocks and Bonds, Mutual Funds, CD Banking, Annuities, Life Insurance, Long Term Care Insurance, Education Plan, Compensation Plans

Data Provided by:
Mr. Frank C. Bogacz (RFC®), EA
(402) 551-3423
4715 S. 80th Street
Omaha, NE
Company
Bogacz Tax and Financial Services
Qualifications
Years of Experience: 22
Membership
IARFC
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Retirement Planning, Tax Planning, Tax Returns, Seminars Work, Stocks and Bonds, Mutual Funds, Annuities, Life Insurance, Long Term Care Insurance, Compensation Plans

Data Provided by:
Liberty Tax Service
(866) 871-1040
3302 Q St # 5
Omaha, NE

Data Provided by:
Hansen Accounting
(402) 333-1323
14625 Industrial Rd
Omaha, NE

Data Provided by:
Liberty Tax Service
(866) 871-1040
1300 S Locust St Ste D
Grand Island, NE

Data Provided by:
Mr. Richard A. Strevey (RFC®), CFP
(402) 445-2288
14301 FNB Parkway #306
Omaha, NE
Company
Strevey Financial Services
Qualifications
Education: BS
Years of Experience: 34
Membership
IARFC, MDRT, FPA, NAIFA
Services
Invoice, Estate Planning, Business Planning, Pension Planning, Executive Compensation Planning, Retirement Planning, Tax Planning, Seminars Work, Employee Benefits, Mutual Funds, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Charitable Planning, Asset Protection, BuySell, Compensation Plans

Data Provided by:
Mr. Scott C. Taylor (RFC®), CHFC, CLU
(402) 571-1505
7216 Graceland Drive
Omaha, NE
Company
Midwest Capital
Qualifications
Education: BBA, CLU, ChFC
Years of Experience: 28
Membership
IARFC, MDRT, SFSP, NAIFA
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Trustee Service, Pension Planning, Executive Compensation Planning, Retirement Planning, Tax Planning, Seminars Work, Employee Benefits, Stocks and Bonds, Mutual Funds, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Charitable Planning, Education Plan, Healthcare Accounts, Charitable Foundations, Asset Protection, BuySell, Compensation Plans

Data Provided by:
Champion Account & Tax
(308) 436-1919
2020 20th St
Gering, NE

Data Provided by:
Champion Professional Service
(308) 436-7199
2020 20th St
Gering, NE

Data Provided by:
Liberty Tax Service
(866) 871-1040
3504 Samson Way # 101
Bellevue, NE

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Tax Deduction Consulting: Marital Deduction

Marital Deduction - Estate Tax

Next to the Alternative Minimum Tax, the Estate Tax is one of the more brutal taxes we have. The marital deduction, however, is one way around the estate tax.

When planning your estate with your husband or wife, there are key points to keep in mind. Luckily, the IRS has gone a long way in ensuring that the estate of individuals is able to be dealt with after death. While discussing the future, you and your spouse should look into the various federal estate marital tax deductions. Under this tax law, after the death of the first spouse, expenses and interest related to the estate inherited by the surviving spouse is deducted from the passed spouse's estate. Simply, this prevents the survivor from being taxed an unfair amount.

This helpful tax tool can be made useful in many ways. Depending upon the way your will is set up, this deduction can save the survivor much burden and cost. If following the rules and complying with requirements completely, this can prevent the surviving spouse from being liable for the deceased's tax liabilities. This gives the surviving spouse the ability to take his or her time in making important decisions for the left estate. It also gives the surviving partner the money that may be necessary to sustain life standards.

When making arrangements for imminent death, there are several ways to transfer the estate into the surviving spouse's name. You can either transfer by will or transfer by trust. If you transfer by will, it will be an outright transfer of the estate. While this is the most common way to handle estate transfers, it can also get a bit messier. The survivor will have complete control of the estate and outright ownership responsibilities. Although this sounds preferable, it also means that the surviving spouse will typically end up assuming pressures of maintaining and selling the estate.

Transferring by trust is a preferred method by many in law. With a trust, the spouse is given m...

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