The Clock is Ticking: The tax law is set to change

The Clock is Ticking: The tax law is set to change in a radical way and opportunities may cease to exist at midnight on December 31, 2012. History To understand the impending deadline, a little history is in order. Former President George W. Bush signed a number of tax cuts into law in 2001 and … Read more

Same Sex Estate Planning

Same Sex Estate Planning A marriage bestows certain legal and tax benefits to both husband and wife. However, Federal laws generally do not recognize the same rights and privileges for same-sex couples. Since gay or lesbian couples lack the same certain tax, inheritance and employment benefits that marriage bestows, these benefits must be created through … Read more

Why Do I Need To Plan My Estate When The Estate Tax Exclusion Is Up To $5,000,000!?

Why Do I Need To Plan My Estate When The Estate Tax Exclusion Is Up To $5,000,000!? I talk to a lot of people who stopped worrying about planning their estates when the 2011 threat of the $1,000,000 limit of assets that could transfer to their heirs without estate tax jumped to an unbelievable $5,000,000 … Read more

Tax Considerations of Joint Ownership

Tax Considerations of Joint Ownership Every transfer of an asset has a potential tax consideration that must be considered. Many people approach estate planning with a simple solution. They place the name of a trusted adult child on their bank accounts or on the title to their homes. They do this to avoid probate or … Read more

Estate Tax Update: It is 2010: NOW WHAT??

Estate Tax Update: It is 2010: NOW WHAT?? I. BRIEF HISTORICAL REVIEW OF HOW WE GOT INTO THIS MESS The 2001 Economic Growth and Taxpayer Relief Reconciliation Act(EGTRRA), was adopted as a ten-year tax relief bill. The duration of the effectiveness of the bill was limited because proponents of the changes did not have enough … Read more