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 | Apr 26, 2012 | Estate Tax, Gift Tax |
While it is well known that compromise legislation at the end of 2010 extending Bush-era temporary tax reductions increased the estate tax exemption to $5 million, it is less well known that the lifetime gift tax exemption was also raised to $5 million. With April...
by Christine | Mar 28, 2012 | Estate Law, Estate Tax, Inheritance |
It’s official. The Indiana inheritance tax is repealed for deaths after Dec. 31, 2021. The Indiana inheritance tax is officially on its way out the door. What does this mean for other states? For some taxpayers, wealth transfer planning has required two layers of tax...
by Christine | Mar 22, 2012 | Estate Tax, Gift Tax |
If you have not used up your unified credit yet there is a pretty compelling case for making a large gift in 2012. Lately, writing about estate law is a lot like writing commentary on a monster movie. This estate law “monster” should be known as the dreaded “Unknown...
by Christine | Mar 1, 2012 | Estate Tax, Roth IRA |
A tax tsunami is coming at the end of this year. And this is the absolutely last chance for a massive Roth conversion. As you likely have read here or elsewhere, the end of 2012 and the transition to 2013 are likely to be a tumultuous time for taxes of all sorts....
by Christine | Feb 29, 2012 | Estate Tax, Portability |
The Internal Revenue Service has extended the deadline to file estate tax returns and make a portability election to benefit the surviving spouses of married individuals who died during the first six months of 2011. It would be a gross understatement to say that 2010...
