Category: Estate Planning

Understanding the Capital Gains Tax

If you sell your house for enough money, you may have to pay a capital gains tax on your capital gain, or profit. A capital gain is the difference between your home’s purchase price and its sale price minus the cost of any capital improvements you have made to it – for example, adding an [..]

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Retirement Benefits: Defined Benefit or Defined Contribution?

Retirement benefits fall into one of two categories: defined benefit plans or defined contribution plans. The Defined Benefit Plan is the kind of retirement plan that employees used to receive along with the proverbial gold watch that they were awarded after years of loyal service to their employer. Today, however, that kind of plan is [..]

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The Difference Between Community Property & Separate Property

What is the difference between community property and separate property? Property that a person owned before his or her marriage is considered that person’s “separate property.” Any item of property (including money) that has been acquired by a husband or wife during their marriage is considered “community property.” The exceptions to the community property rule [..]

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