by Christine | Apr 29, 2013 | Credit Shelter Trust, Estate Planning, Estate Tax, Portability, Trusts |
Even if your state has no estate or inheritance tax, there are other reasons to have a credit shelter trust. Here are a few … Even amongst recent tax law changes, there are certain estate planning tools that are still good ole’ standbys for your estate plan. ...
by Christine | Apr 26, 2013 | Estate Planning, Exit Strategy, Small Business, Succession Planning |
There are myriad ways to begin the exit process from your business without giving up management control. [Here] are some ideas to structure for an eventual departure, without having to hand over the keys to the business right now. Business succession planning...
by Christine | Apr 25, 2013 | ATRA 2012, Budget, Estate Tax, Federal Estate Tax, Inheritance Tax |
Although the new $5.25 million exemption shields the vast majority of estates from federal taxes, state estate taxes are alive and well. Currently, 21 states and the District of Columbia impose some type of death tax, and most kick in at a level much lower than the...
by Christine | Apr 24, 2013 | Digital Assets, Digital Estate Planning, Virtual Assets |
Google on Wednesday became one of the first major Internet companies to put control of data after death directly into the hands of its users. Technology has changed the way we view assets, as we now have virtual assets to protect in addition to our tangible property....
by Christine | Apr 23, 2013 | FATCA, International Taxation, Retirement Abroad |
So how should Americans working abroad or with a financial life in two countries manage their finances? Traveling abroad can be exhilarating enough, but living abroad comes with a whole other level of excitement … and even some hitches if you aren’t careful. If you...
by Christine | Apr 22, 2013 | Elder Care, Estate Planning |
Even if a copy of your living will ends up at the hospital with you — that's hardly guaranteed — doctors routinely don't know how to interpret them. They may still leave friends and family confused about what you want. End-of-life decisions are...
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...
