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There are several ways to establish a trust, including executing a document known as a 'springing trust' or forming a limited liability company. Pixabay

There are estate planning strategies to reduce estate taxes. If you have assets that are exempt from the estate tax and that you intend to pass down to your children or beneficiaries, one of these strategies can be used. There are many creative ways that property can be transferred without making any taxable payment. One of the most common strategies for transferring exempt properties is revocable trusts.

There are several ways to establish a trust, including executing a document known as a ‘springing trust’ or forming a limited liability company. Several other strategies, such as revocable living trusts and life settlements, may also be used to reduce estate taxes. If you want to know more about estate planning, contact an estate planning attorney today. They can help you determine if the strategies described here are right for your situation and provide valuable advice about incorporating estate planning and inheritance laws.

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What should I expect to hire an estate planning strategy?

An estate-planning lawyer can help you with all of the intricate details of your estate plan, including making sure that you will follow the state laws regarding your assets’ distribution. They will also make sure that any IRS requirements are met and can make a customized plan for any of their clients. The only person who can say what I should expect to hire an estate planning strategy is you. However, you can read through the attorney’s website to better understand how they can help you.

There are many different types of estate planning strategies that you can hire, but not all of them will be right for you. Before hiring one, though, you need to make sure that you are comfortable working with them. If you have never actually hired one before, then you may feel like you are walking into a stranger’s home. Make sure that you take some time to meet with them and get to know them to know if you will be able to work well together. Also, check into what kind of reputation the one you are considering has to make sure that they do not have any complaints that would make you not want to work with them.

One of the most important things that you should ask yourself when thinking about hiring an estate planning lawyer is what you want out of your plan. Although the process can be complex and time-consuming, you must take the time to figure out what you want so that you will not get stuck with a plan that does not serve you well. Remember to ask questions and consider all of your options before making your final decision so that you can make the most of your plan.

Many successful entrepreneurs started their business with some sort of estate planning in mind. Pixabay

When do you need estate planning strategies?

When you first get married, planning your wedding can be one of the most exciting parts of the process and can be easily forgotten later on. It is especially important for anyone getting married to make sure that their names are legally changed upon death to ensure that their children are properly taken care of after they have passed away. Another important aspect of planning a wedding is to make sure that any marriage records are filed so that they are not in the state’s folder after the couple’s death.

When you make important financial decisions such as taking out a loan or retirement funds, you should consult with a financial advisor to help you develop a plan to protect your interests. When you take out a loan, it is best to talk to your family about it. You want to make sure that you both understand what you are doing and that the interest rate is set to not negatively affect your loved ones in the future. The same goes for any investment or retirement funds, and you may decide to invest in them. You want to protect your investments as best as you can.

When must you use estate planning strategies?

For most of us, we don’t use them until something catastrophic happens to us, such as death or divorce. Even then, most people think that they should have used them sooner and not let things get so out of hand. The reality is that you should have considered planning your estate even if you aren’t sure what to do.

If you start planning now, you can avoid much stress later on. When should you use estate planning strategies? When you want to start a family or when you want to pass on something important to you. Most people never even consider it until their lives are impacted by it. Unfortunately, people in the entertainment business need to plan their businesses in a way that will keep them functioning properly after they are gone. Just because you are no longer able to physically take care of business doesn’t mean you should let it go to waste.

ALSO READ: My Encounter With India And Its Boundless Wisdom

Many successful entrepreneurs started their business with some sort of estate planning in mind. They created a durable planning system when they had to plan their businesses for retirement. Others just never thought about it at all.

(Disclaimer: This article is sponsored and hence promotes links of commercial interest.)


Photo by Wikimedia Commons.

Char Dham Yatra resumed on Friday with more than 16,000 devotees resuming the pilgrimage from the Rishikesh camp.

As weather cleared up in Uttarakhand, Char Dham Yatra restored on Friday with more than 16,000 devotees resuming the pilgrimage from the Rishikesh camp.

According to sources, road leading to Badrinath has been repaired and helicopter service has also resumed.

Meanwhile, Uttarakhand Chief Minister Pushkar Singh Dhami visited Dungi village and met families of people who were missing after the landslip incident, and consoled them.

Dhami assured them of all possible assistance. Two people from the village are still reported to be missing.

Pilgrims were seen leaving from Rishikesh Char Dham Bus terminal and Haridwar bus station for the pilgrimage since morning.

As per the state government, various departments -- Devasthanam Board, police are assisting the pilgrims.

Police Chowki Yatra Bus Terminal, Rishikesh, was announcing passenger-information via loudspeaker.

Free RT-PCR tests of pilgrims were being conducted at Rishikesh bus terminal.

Uttarakhand Char Dham Devasthanam Management Board's media in-charge Dr Harish Gaur said pilgrimage was on in Kedarnath, Gangotri and Yamunotri, while for Kedarnath, helicopter service was also available.

Though the weather was cold in all dhams, thankfully there was no rain, he added.

Portals of the temple in Badrinath will close on November 20, Gangotri on November 5, while that of Kedarnath and Yamunotri on November 6.

Uttarakhand floods, triggered by a major downpour from October 17 to 19, have claimed 65 lives so far, 3,500 people have been rescued while 16,000 evacuated to safety.

Seventeen teams of National Disaster Response Force (NDRF), seven teams of State Disaster Response Force (SDRF), 15 companies of Provincial Armed Constabulary (PAC) and 5,000 police personnel have been engaged in rescue and relief operations.

The state has already been provided with Rs 250 crore Disaster Fund which is being used for relief works.

To prevent spread of the diseases, the Central and state governments have decided to send medical teams to the affected areas.

Snapped power lines will be restored at the earliest, the government assured.

The state government said that as soon as alert for heavy rainfall was issued, the Incident Response System was activated at state and district levels, and pilgrims were halted at safer places. (IANS/JB)

Keywords: Uttarakhand, India, Char Dham Yatra, PushkarDhami, Rishikesh.

Photo by Wikimedia Commons.

Naga leaders are adamant in their main demands for a separate Constitution and flag.

The Centre has continued the Naga peace talks with the Isak-Muivah faction of National Socialist Council of Nagalim (NSCN-IM) leaders, but negotiations face roadblocks as the Naga leaders are adamant in their main demands for a separate Constitution and flag.

The sources aware of these developments said that the Centre was hopeful that a successful solution of the six decades-long peace talks would arrive at a logical conclusion, but in the recent statements, Naga leaders have accused the Centre of offering post-solution options.

Sources quoting the stand of Naga leaders said that NSCN's stand was loud and clear that it would not follow the forbidden route to the Naga solution that was linked to foregoing the Naga national flag and Constitution, which is the face of the Naga political struggle and identity.

The Naga leaders have also said that the Centre has been using divisive policy and flattery in the name of finding the Naga political solution when the matters heated up.

When the Centre resumed the peace process in September this year and sent the former special director of the Intelligence Bureau (IB) A.K. Mishra as the Ministry of Home Affairs' emissary to the rebel outfit's chief negotiator and general secretary T. Muivah, he assured him (Muivah) that the peace talks would be initiated under the original framework signed in 2015, a source in the Naga rebel group said.

"Here we are talking about the Naga national flag and Yehzabo (Constitution), the two issues that are holding up the Naga solution under the ongoing Indo-Naga political talks in Delhi.

"The chequered history of the Indo-Naga political issue is clear enough before us, with accords and agreements that were never meant to be implemented in letter and spirit", an important office-bearer of the rebel outfit said while criticizing the governments' stand.

Accusing the Centre, he further accused the Centre of persuading the Naga people again to accept whatever is being offered to hurry up the Naga talks.

On the invitation of the Centre, the senior leaders of the NSCN-IM including T. Muivah arrived in the national capital on October 6 this year to hold another round of talks with the Centre.

Both, the Centre and the Naga leaders had indicated their keenness on resolving this long pending issue by the end of this year in an amicable manner.

Assam Chief Minister Himanta Biswa Sharma, who is also chairman of North East Democratic Alliance (NEDA), and Nagaland Chief Minister Neiphiu Rio had been actively involved in the resumption of the peace talks and taking it forward to a logical conclusion.

Soon after the transfer of Nagaland Governor R.N. Ravi, who was appointed as the Centre's interlocutor for the Naga peace talks on August 29, 2014, to Tamil Nadu, the peace talks resumed on September 20 in Kohima when the Centre representative met the Naga leaders and invited them to visit Delhi for further rounds of peace talks.

The NSCN-IM and the other outfits entered into a ceasefire agreement with the Government of India in 1997 and over 80 rounds of negotiations with the Centre have been held in the past in successive governments. (IANS/JB)

Keywords: Nagaland, India, Constitution, Politics, Flag.

Photo by Wikimedia Commons

India-England test series will now be played next year from July 1 at Edgbaston Stadium

The series decider for the Test series between England and India will now be played at Edgbaston from July 1 next year, said the England and Wales Cricket Board (ECB) on Friday. India is currently leading the series 2-1 before the fifth Test at Old Trafford was cancelled hours before the start due to concerns over COVID-19 outbreak in the tourists' camp.

"The fifth match of the LV= Insurance Test Series between England Men and India Men has been rescheduled and will now take place in July 2022. The match, which was due to take place last month at Emirates Old Trafford, was called off when India were unable to field a team due to fears of a further increase in the number of Covid-19 cases inside the camp," said an ECB statement.

"With India leading the series 2-1, the concluding fifth match will now take place from July 1, 2022, at Edgbaston, following an agreement between the England and Wales Cricket Board (ECB) and the Board of Control for Cricket in India (BCCI)," added the statement.

ECB also said that due to the rescheduled Test, the white-ball series between England and India will now start six days later than originally planned. The T20I series will begin on July 7 at Ageas Bowl with Edgbaston and Trent Bridge hosting the second and third matches respectively on July 9 and 10. It will be followed by the ODI series starting on July 12 at The Oval followed by Lord's and Old Trafford hosting the second and third ODI on July 14 and 17 respectively.

"Ticket holders do not have to take any action as all tickets will remain valid for the equivalent rearranged matchday at their host venue. Host venues will communicate the new fixture details to ticket purchasers and the options available to them, including the timeframe for requesting a refund if they are not able to attend the new match day," further said the statement.

"We are very pleased that we have reached an agreement with BCCI to creating a fitting end to what has been a brilliant series so far. I'm very grateful to all the venues involved for the cooperation they've shown in allowing us to reschedule this match. I'd also like to thank Cricket South Africa for their support and understanding to allow these changes to be possible," said Tom Harrison, the CEO of the ECB.

"We would like to apologise again to fans for the disruption and disappointment of September events. We know it was a day that so many had planned long in advance. We recognise that accommodating this extra match means a tighter schedule for the white ball series. We will continue to manage our players' welfare and workloads through next year while we also continue to seek the optimum schedule for fans, players and our partners across the game."

"I am delighted that the England-India Test series will now have its rightful conclusion. The four Test matches were riveting, and we needed a fitting finale. The BCCI recognizes and respects the traditional form of the game and is also mindful of its role and obligations towards fellow Board Members. In the last two months, both BCCI and the ECB have been engaged in discussions and our efforts were aimed at finding a suitable window. I thank the ECB for their understanding and patience in finding an amicable solution," said BCCI Secretary Jay Shah. (IANS/JB)

Keywords: India, Britain, BCCI, Test Match, Cricket.