by Christine | Feb 15, 2013 | Small Business, Valuation |
With the day-to-day demands of running their businesses, most owners put off getting a valuation until a sale is imminent. But some are starting to treat the act of valuing their business as an integral part of running it. Has anyone asked you what your business is...
by Christine | Feb 14, 2013 | Death Tax, Estate Tax, Federal Estate Tax, GIfting, Inheritance Tax |
The good news is the estate tax won’t apply to as many business owners as we feared; the bad news is that when it applies, it has a nasty sting. Over the past several years, we’ve seen estate taxes go through many alterations. We’ve seen changed exemption amounts, a...
by Christine | Feb 13, 2013 | Elder Care, Elder Law, Taxes |
You might be able to claim your parent as a dependent, take a dependency care tax credit, write off your mom or dad’s medical expenses or get some combination of these tax breaks. It’s that time again – Uncle Sam is knocking on your door and ready to collect taxes. If...
by Christine | Feb 12, 2013 | Disinheritance, Estate Planning, Inheritance, Wills |
As cruel as it sounds to disinherit a child, people have their reasons. Sometimes there is no relationship. Other parents might feel the adult is well-off and does not need an inheritance. Estate planning largely involves the process of distributing assets to your...
by Christine | Feb 11, 2013 | Estate Planning, Family Home, GIfting, Real Estate |
There are nearly half a dozen ways to give a home to your child. And a couple are tax-free. You’re probably well aware that for many families, the family home is the single most important estate asset. Can you imagine your kids having to part with the home they grew...
by Christine | Feb 8, 2013 | Estate Law, Estate Planning |
…State estate and inheritance taxes have been in constant flux over the last decade. And it’s not just the list of states that has been changing, but in some states, the level at which the tax kicks in has been changing (both up and down). So it’s important to stay on...
by Christine | Feb 7, 2013 | ATRA 2012, Estate Law, Estate Planning, Family Limited Partnership, GRATs, Small Business, Tax Law |
The good news is that the New Year’s day passage of the American Taxpayer Relief Tax Act Of 2012 or ATRA ended 12 years of uncertainty about how much could pass tax free; what the tax will be on transfers above that amount; and even whether there would be an estate...
by Christine | Feb 6, 2013 | Estate Law, Estate Planning |
Donors who acted solely out of the expectation that the generous exemptions would disappear may be experiencing a healthy dose of donor’s remorse. For them, the question arises, “Can I take it back?” With all the uncertainty over changes in the gift tax at the end of...
by Christine | Feb 5, 2013 | Depression, DSM5, Elder Law |
The Diagnostic and Statistical Manual of Mental Disorders, published and periodically updated by the American Psychiatric Association, is one of those documents few laypeople ever read, but many of us are affected by. When you have an elderly loved one, it’s wise to...
by Christine | Feb 4, 2013 | Estate Planning, Trusts |
Under the new rules, a taxpayer may shield up to $5.25 million from estate taxes ($10.5 million for couples) … Now that the uncertainty has been lifted, some ultrawealthy families are wondering whether they want to leave heirs that much tax-free money after all. Can...
