by Christine | May 21, 2012 | Alzheimer's, Dementia, Elder Law, Estate Planning |
In a clinical trial that could lead to treatments that prevent Alzheimer’s, people who are genetically guaranteed to develop the disease — but who do not yet have any symptoms — will, for the first time, be given a drug intended to stop it, federal officials announced...
by Christine | May 18, 2012 | Estate Planning, Gift, Small Business |
The Tax Court has just passed a new technique that closely-held business owners —and wealthy families — can use to pass assets to heirs with a minimal amount of taxes and complications. The ruling in the case, Wandry v. Commissioner, is stirring up excitement among...
by Christine | May 17, 2012 | Capital Gains |
The cost of being lazy about cost-basis elections seems particularly high right now, given that the markets have generally been trending upward as the new regulations have gone into effect. Investing and taxation can be tricky things, especially if you have been...
by Christine | May 16, 2012 | Estate Planning, Trusts |
Traditional estate planning can be problematic when dealing with firearms. The documents used to manage your bank accounts often instruct people to violate laws that pertain to the transfer, possession, and use of firearms. A Gun Trust is an estate planning document...
by Christine | May 15, 2012 | Estate Planning, Estate Tax, Gift Tax |
The current scheduled changes in the estate and gift tax rates and exemptions have me struggling to come up with some good titles for people with a net worth of $4 to $15 million. How about “midmillionaires,” or “midmills” for short? In the upcoming year many...
by Christine | May 14, 2012 | Alzheimer's, Dementia, Elder Law, Estate Planning, Living Will, Medical Directives, Trusts |
ELDER LAW Increasingly, I see many clients experiencing and living with elderly parents who are grappling with memory loss and finding it difficult to manage their finances. And most of them, I'm learning, are making the same mistake: they're waiting too...
by Christine | May 11, 2012 | Estate Planning, Small Business, Succession Planning |
The wealth of many boomers is tied up in businesses they own. And that can be a problem when it comes time to retire. If you’re a small business owner, then you probably speak of your business and your life in the same breath. There’s nothing wrong with that. In fact,...
by Christine | May 10, 2012 | Estate Planning, Estate Tax, Exit Tax, Expatriation, Retirement Planning |
U.S. citizens or long-term residents who expatriate after June 16, 2008, are treated as having sold all their worldwide property for its fair market value the day before leaving the U.S. As far as the IRS is concerned, permanently leaving the country is something on...
by Christine | May 9, 2012 | Estate Planning, Estate Tax |
Death and taxes may be equally inevitable, but the taxman demands the last word. Death does not excuse a final accounting with the IRS. In fact, taxes can further complicate the lives of survivors. Of the two certainties in life – that is, of death and of taxes –the...
by Christine | May 8, 2012 | Estate Planning, Religion |
For many people, estate planning isn't just about financial assets and other practical concerns. It's also about honoring their religious beliefs and passing those values on to family members. That can be very tricky ground. Planning your estate may seem like...
