by Christine | May 8, 2013 | Beneficiary Forms, Estate Planning, Estate Tax, LIfe Insurance, Trusts, Wills |
Consider the people who fill out forms designating who inherits assets like an insurance policy and then never go back and revise the forms when, for instance, they divorce and remarry. And then, there are the parents who have not determined who will serve as...
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 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 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 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 | Mar 5, 2013 | ATRA 2012, Estate Law, Estate Tax |
"Everybody should think about their estate regardless of the level of assets," says Barry Fischman, a partner at accounting firm Marcum. "The biggest hurdle is psychological. People say, ‘I'm not ready to do anything. I want to maintain control...
