Year End Estate Planning Tips – Make Annual Exclusion Gifts
This year the annual gift tax exclusion is $13,000 per person and in 2010 the exclusion will remain the same.
Foreign Account Tax Compliance Act – Traps for the Unwary
For anyone who has clients or family members that live and work abroad, the new Foreign Account Tax Compliance Act (FATCA) is a real problem. Although this Act is supposed to punish Americans who hide
The Need for Long Term Care Planning
One of the greatest fears of older Americans is that they may end up in a nursing home. This not only means a great loss of personal autonomy, but also a tremendous financial price. Depending
Conservatorship or Legal Guardianship: Which is the Right Choice?
Conservatorship concerns only the conservatee's financial matters when they need assistance.
New Jersey Transfer Inheritance Tax : How the Tax Works
New Jersey also has an inheritance tax. An inheritance tax means that when a New Jersey resident dies his or her assets will be taxed on the basis of who inherits those assets No Tax
What is an Irrevocable Life Insurance Trust (ILIT)?
Many people aren’t aware that all of the proceeds from life insurance policies that they own at death will be included their estate for estate tax purposes. This is because if the policy owner can
Estate Planning Discussions: difficult, emotional and stressful
Delaying these discussions can lead to significant family hardship and a loss of highly prized and hard-earned assets.
Navigating the Step-Up Tax Basis Rule
Do not try this at home alone. Consult with your tax adviser to determine the best course of action regarding your entire tax liability.
Non-Resident Estate Tax Trap
If you aren't a citizen or resident of the United States, and want to own U.S. shares, don't hold them in your own name.
Estate tax future unclear
Many commentators do not believe that a permanent fix for the federal tax will emerge anytime soon.
IRA Beneficiary Designation Planning
When an estate or another non-individual is a primary beneficiary, the entire IRA must be distributed within five years after the original owner's passing.
BUSINESS SUCCESSION LEGAL PLANNING
By Parag Patel, Esq. If the U.S. Government is your favorite charity, rest assured, it will find a way to use your donation. But wouldn’t it be better to give your money to your children?