New York Times columnist Paul Krugman famously dubbed the Bush 2001 tax cuts the “Throw Momma From The Train Act”, because the estate tax was eliminated for just one year—2010. But as 2010 grinds on without a federal estate levy, it’s becoming clear that Krugman got it wrong. Any Momma who would ride the rails [...]
No one wants to be taken by surprise with a super high tax bill for 2011. With only four months remaining until the expiration of Bush’s tax cuts enacted in the 2001 EGTRRA Bill, a lot of Taxpayers are holding their breath while they scramble to plan for a wide range of alternatives.
We are [...]
“In this world, nothing can be said to be certain except death and taxes.” ~Benjamin Franklin~ With the estate tax existing as staple in revenue production since 1916, the controversial repeal of such marks a historical period of uncertainty when it comes to death and taxes.
Many speculated that Congress would enact interim Legislation preventing a [...]
Many people seem to avoid estate planning either because we do not want to think about death (particularly our own) or we do not want to think about all the paperwork, emotion, and flat-out hassle involved. It’s kind of like digging out and organizing all your tax information for the year to bring to your [...]
In order to take charge of your health, wealth and ultimately your estate, you should become familiar with the terminology:
Inter Vivos Trust (IVT) – An IVT allows you to maintain possession and control of your property, providing a smooth transfer of authority in the event of incapacity or death. At such time, your designated co-trustee [...]
What are Life and Wealth Plans?
Although many “estate plans” merely include a will, I encourage my clients to incorporate a life and wealth plan into their estate plan. Because estate planning already requires an intensive analysis of your financial bottom-line, it creates a unique occasion to address life and wealth issues without incurring [...]