by Christine | Aug 17, 2012 | 2012, Estate Tax, State Estate Tax |
There has been a marked uptick in state-level activity on the estate tax front. With numerous legislative proposals swirling, which ones survived? When it comes to the federal level and the estate tax, we’re all simply waiting for some word from Congress and the White...
by Christine | Aug 16, 2012 | Estate Law, Estate Planning |
To help implement your wishes, trusts and estate lawyers need to ask very tough questions. Some of them might make you squirm. Have you made (or updated) your estate plan? What questions about your estate planning (or lack thereof) are most likely to make you squirm?...
by Christine | Aug 15, 2012 | Alzheimer's, Appraisal, Charitable Giving, Estate Planning, Gift, Gift Tax |
"We're sort of in a perfect storm right now because the gift tax exemption is higher than it's ever been, and the value of businesses are at an all-time low, which makes it a perfect time to gift them," says Karen Goldberg, president of the Estate...
by Christine | Aug 14, 2012 | Individual Retirement Accounts (IRA), Inherited IRAs, IRA Rollover |
The rollover into a non-spousal beneficiary's receiving IRA (an IRA set up specifically to receive an inherited retirement plan distribution) must be accomplished via a direct (trustee-to-trustee) transfer that does not pass through the hands of the beneficiary...
by Christine | Aug 13, 2012 | Estate Planning, Special Needs Children, Special Needs Trusts, Trusts |
Having a long-term financial plan in place is crucial for parents of special-needs children. It will help parents juggle saving for the child's care as well as for college for other children and their own retirement. It also will help guarantee that the care—and...
by Christine | Aug 10, 2012 | Alzheimer's, Elder Care, Elder Law |
The way people walk appears to speak volumes about the way they think, so much so that changes in an older person’s gait appear to be an early indicator of cognitive impairment, including Alzheimer’s disease. Cognitive impairments, like Alzheimer’s and...
by Christine | Aug 9, 2012 | Estate Tax, Family Business, Farms, Liquid Assets |
The American Farm Bureau Federation said it concurs with a Joint Economic Committee report, "Costs and Consequences of the Federal Estate Tax," released Wednesday that details the financial harm posed by estate taxes on family businesses. It’s a simple...
by Christine | Aug 9, 2012 | Same Sex Estate Planning, Same Sex Parents |
Same-sex couples raising children must stand ready to prove to the world they are a family, just one that happens to have two mothers or two fathers. This constant burden of proof is especially difficult for families … who live in a state that doesn’t allow them to...
by Christine | Aug 8, 2012 | Estate Planning, Small Business, Taxes |
Last week a colleague and I were discussing a C Corporation with nearly three-quarters of a million dollars in retained earnings, with owners who want to get the money out. The owners wondered about any “fancy tax ideas.” My colleague immediately stated, “Yeah;...
by Christine | Aug 7, 2012 | 2010, Estate Tax, Formula Clause, Trusts |
You need to make sure your will and trusts are worded to accommodate all the possibilities. You also need to revisit them regularly to avoid ending up with a very different result than what you think you're planning. Updating your estate plan to keep it current...
