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 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...
by Christine | Jan 29, 2013 | Elder Law, Estate Planning, Individual Retirement Accounts (IRA), Retirement, Roth IRA |
Under the new rules, a Roth conversion would be available to anyone with a traditional 401(k) and an employer who offers a Roth account and conversion. It’s no doubt that the Roth IRA is a favorable option to many people when it comes to retirement planning. ...
by Christine | Jan 25, 2013 | Estate Planning, Marriage, Portability |
Portability makes it unnecessary for spouses to use bypass trusts solely to preserve the federal exemption amount. As with any new process there is a shakeout period, though. The good news has resounded and there is much to celebrate with the passing of ATRA 2012 (or...
by Christine | Jan 24, 2013 | Estate Planning, Taxes, Trusts |
“It’s hitting where it really shouldn’t,” says Laurie Hall, an estates lawyer and head of the Wealth Management Group at Edwards Wildman in Boston. “These increases weren’t intended to hit people with income below $200,000, and they will.” Many of us are at ease now...
