by Christine | Apr 19, 2013 | ATRA 2012, Estate Law, Estate Tax, Gift Tax, Portability |
Although the new law has been hailed as a welcome relief from the old rules, it still can be deep water. Consider consulting a reliable estate-tax pro. With budget uncertainty over our heads, it’s nice to know there are some laws that are (supposedly) set in...
by Christine | Apr 18, 2013 | Asset Protection, Estate Planning, Prenuptial Agreement |
Most commonly, a prenup is drawn up to protect the spouse with greater separate assets from losing an unfair proportion of that wealth if the marriage should end. Spring brings about more than just Spring showers and May flowers. Don’t forget about those Spring...
by Christine | Apr 17, 2013 | Budget, Estate Planning, Individual Retirement Accounts (IRA), Retirement |
The proposal is being spun as a way to prevent wealthy private-equity executives from amassing huge IRAs—like Mitt Romney’s, once estimated to be worth as much as $100 million. But it would also curb the savings ability of self-employed professionals like doctors and...
by Christine | Apr 16, 2013 | Estate Tax, Estate Tax Returns, Tax Season |
The IRS' focus on estate tax returns resulted in the collection of $1.1 million more in additional tax revenue for the 2011 tax year. Nobody wants to hear from the IRS …and I mean nobody. Typically the IRS would only contact you for an audit, which is never good...
by Christine | Apr 15, 2013 | Asset Protection, Bankruptcy, Individual Retirement Accounts (IRA) |
Under the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA), the first $1 million of IRA and Roth IRA funds are protected (or exempt) in bankruptcy. This amount is reviewed every three years and increased as needed. For example, the $1 million...
