by Christine | Mar 5, 2012 | Estate Planning, Trusts, Wealth Transfer |
Despite the bitter economic downturn, one part of the American dream is alive and well: the possibility of sudden wealth… Yet such life-changing windfalls can just as quickly vanish, say advisers who work with those who suddenly become wealthy. If you are setting up...
by Christine | Mar 2, 2012 | Asset Protection |
The IRS has significantly lowered the bar for innocent spouse relief. The rules of the game have changed. A spouse who was denied relief under the old rules should consider applying for innocent spouse relief under Notice 2012-8, provided the ten-year collection...
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...
by Christine | Feb 28, 2012 | Elder Law, Government Aid, Senior Benefits |
Millions of seniors in the United States are missing out on more than $20 billion in aid that could help pay for food, medicine and heating, simply because they don't know it's there. America’s elderly have had an increasingly difficult time over the past...
by Christine | Feb 27, 2012 | Assisted Living Facility, Elder Law, Nursing Homes, Placement |
Peter Kantorowski wanted his 98-year-old mother to move into a nursing home or live with him. She wouldn’t go; she didn’t want to leave her home of nearly 60 years. Finally, Kantorowski went to court — and served his mother with an eviction notice shortly before her...
by Christine | Feb 24, 2012 | Estate Planning |
If you're not running for president, and don't have to worry about public relations, what are the legitimate reasons for moving money offshore? Offshore accounts have been in the news recently and not without reason. For one thing, the IRS has been gunning for...
by Christine | Feb 24, 2012 | Estate Planning |
If you're not running for president, and don't have to worry about public relations, what are the legitimate reasons for moving money offshore? Offshore accounts have been in the news recently and not without reason. For one thing, the IRS has been gunning for...
by Christine | Feb 23, 2012 | Estate Planning, Individual Retirement Accounts (IRA), Inheritance, Inherited IRAs |
Inherited retirement accounts are truly one of those gifts that keep on giving because heirs can benefit for many years without much tax burden, but Congress is starting to talk about curtailing breaks on the accounts. For all the bills, budget proposals, and...
by Christine | Feb 23, 2012 | Estate Planning, Individual Retirement Accounts (IRA), Inheritance, Inherited IRAs |
Inherited retirement accounts are truly one of those gifts that keep on giving because heirs can benefit for many years without much tax burden, but Congress is starting to talk about curtailing breaks on the accounts. For all the bills, budget proposals, and...
