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Planning Your Estate Government GrantsPlanning Your Estate Government GrantsPlanning Your Estate
A primary purpose of estate planning is to distribute your assets according to your wishes after your death. Successful estate planning transfers your assets to your beneficiaries quickly and usually with minimal tax consequences. The process of estate planning includes inventorying your assets and making a will and/or establishing a trust, often with an emphasis on minimizing taxes. This pamphlet provides only a general overview of estate planning. You should consult an attorney, or perhaps a CPA or tax advisor for additional guidance.
Do I Need to Worry? You may think estate planning is only for the wealthy. If your assets are worth $1,000,000 or more, estate planning may benefit your heirs. That’s because generally taxable estates worth in excess of the amounts in the chart below may be subject to federal estate taxes, with rates as high as 45% to 55% of the taxable estate.
Adding up the value of your assets can be an eye-opening experience. By the time you account for your home, investments, retirement savings and life insurance policies you own, you may find your estate in the taxable category.
Even if your estate is not likely to be subject to federal estate taxes, estate planning may be necessary to be sure your intentions for disposition of your assets are carried out. ELIGIBLE FUNCTIONAL CATEGORIES:1. CONSUMER ; Government Grants- Regulation, Inspection, Enforcement; Government Grants 2. EMPLOYMENT, LABOR, AND TRAINING; Government Grants - Job Training, Employment; 3. TRANSPORTATION; Government Grants - Government Grants WHO CAN BENEFIT FROM THIS PROGRAM:- State; Government GrantsWHO CAN APPLY:Government Grants All whom apply- State (includes All 50 states,Guam,Peurto Rico,District of Columbia, public institutions of higher education and hospitals
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