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 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...
by Christine | Jul 27, 2012 | Estate Tax, Income Tax, Same Sex Estate Planning |
Which taxes qualify for the protective claim? Estate taxes, income taxes, even gift taxes. In fact, any time you feel you overpaid a tax you can file for a refund, if you have a good reason. The legality and constitutionality of same-sex marriage has not been far from...
by Christine | Jul 17, 2012 | Audit, Beneficiary, Estate Tax, IRS |
When you inherit money or property you shouldn’t have to pay taxes. It’s not subject to income tax. Plus, if there’s an inheritance tax to pay, the estate or person giving it to you has already paid it or provided for its payment. At least that’s how it’s supposed to...
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 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...
