Last Chance for 2010 Retirement Investment Planning

In Estate Planningby Daniel Friedel

There are still a few weeks left to take advantage of tax-saving opportunities for 2010 retirement planning.  2010 is a great year to implement or    modify your retirement investments.  The expanded availability of Roth IRAs, coupled with preferential income recognition opportunities for rollovers and other changes making regular IRAs more attractive, provide a savings incentive for retirement planning.   Below is …

Estates May be Given Choice Between 2009 & 2010 Estate Tax Law

In Estate Planning, Tax Planningby Daniel Friedel

Wall Street Journal, Estate Tax Choice May Be In Works For 2010 — Treasury Official, by Martin Vaughan: The estates of those who died this year might be allowed to be taxed as if they died in 2009, in order to resolve a problem created by the repeal of the estate tax, a Treasury Department official said. Allowing those estates to …

Throw Momma From Her Private Jet–Not From The Train

In Estate Planning, Tax Planningby Daniel Friedel

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 (even the pricey Acela) probably …

Bush Tax Cuts Expire in 2010…Will You Pay Higher Taxes?

In Estate Planning, Tax Planningby Daniel Friedel

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 likely to see one of …

The Uncertain Future of Death and Taxes in 2010

In Estate Planning, Tax Planningby Daniel Friedel

“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 complete repeal of the …

Estate Plan Anxiety?? Join the Club…

In Estate Planningby Daniel Friedel

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 CPA…but worse.  Your CPA only …

Understanding Estate Planning Terms

In Estate Planningby Daniel Friedel

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 (often an heir or …

Incorporating Life and Wealth Tax Planning into your Estate Plan

In Estate Planningby Daniel Friedel

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 a significant amount of additional cost.  …