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Paul Walker Had Beneficial Estate Plan in Place Before Death

The death of famous actor Paul Walker in a car accident came as a shock to many. The action movie star passed away at the age of 40, and he is survived by his daughter, age 15, as well as his parents. Despite the unexpected nature of his death, Walker had an estate plan in place that clearly defines how his money will be handled. The actor's large estate will be passed entirely to his daughter.

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New Medicaid Law Could Have Impact on Estate Planning

The Affordable Care Act has now helped millions of Americans get health insurance. However, it's unlikely that an average person completely understands every aspect of the new law. For example, a little-known facet of the Medicaid program could cause some Americans to rethink their coverage options.

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Estate Planning in the Northeast Might Mean Moving Out of State

The current federal estate tax exemption limit is $5.34 million for an individual and $10.68 million for married couples. This means that estate taxes are usually only a concern for very wealthy people in the U.S. However, 16 states have estate taxes that set lower exemption limits than the federal levels. People in these states, most of which are in the north, could be subject to estate taxes even if they are only considered to be middle- or upper-middle class.

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