Explosive New Law in Estates with Firearms-The SAFE Act of 2013
You've been nominated as an Executor in a will but not appointed yet.  Or, worse yet, a person dies without a will and you may or may not be appointed as the Administrator.  The person owns firearms at the time of his or her death.  What's a fiduciary to... »
Planning for Digital Assets--Does Anybody Know Your Passwords?
On any given day, you likely log on to more than a dozen internet sites, each of which require a username and password that only you know.  When you are incapacitated or die, all that password protection safety can create practical difficulties.  It is likely your estate will include... »
Don't Let the High Estate Tax Exemption Fool You. Planning is Still Vital!
With the federal estate tax exemption at a historical high of $5.34 million per person and counting, it is easy to be lulled into a false sense that estate planning is not necessary. From a non-tax perspective, it remains crucial because: Planning ensures that your assets pass to your intended... »
IRS Goes After Michael Jackson Estate
The IRS has filed documents in Tax Court claiming that the Michael Jackson estate owes $702 million in taxes and penalties. When Jackson died in 2009, the executors of his estate claimed that his estate had a very low valuation because Jackson's popularity had significantly declined.  The executors valued... »
Love and Office - Valentine's Day + President's Day
Since Valentine’s Day and President’s Day coincide, here are some romantic facts about our forefathers:  In 1842, Lincoln married Mary Todd, a woman who was to make his domestic life “a burning, scorching hell” as “terrible as death and as gloomy as the grave.”  And he was seriously courting two... »
Possible Changes to New York State Estate and Gift Tax
Pending Changes to Estate Tax Law - February 2014 Governor Cuomo's recently released budget bill proposes important changes to the New York estate tax and the New York income taxation of certain trusts. Proposed changes require high net worth individuals and trustees of certain trusts to consider taking action between now... »
February Brain Teaser
Brain Teaser In the left column you have a pair of words. Your goal is to find a third word that is connected or associated with both of these two words. 1. LOCK — PIANO 2. SHIP — CARD 3. TREE — CAR 4. SCHOOL — EYE 5. PILLOW — COURT 6. RIVER — MONEY 7. BED... »
What's Your Number?
No, not that number.   You know the questions, how much money would you need in the bank to stop working?  Or, for the rest of us mortals, how much money will you need to retire? It is surprising how few people save or place any importance on savings.  True, it... »
A Love Letter for Valentine's Day
Some say that doing a Last Will and Testament, Health Care Proxy, and Power of Attorney is like writing a love letter. Corny, I know, but actually true. Being organized as well as being prepared for a crisis helps ease the burden on your loved ones. Imagine being in... »
Tax and Gift Changes for 2014
In 2013 Congress made the federal estate tax laws so-called "permanent" with the American Taxpayer Relief Act ("ATRA"). ATRA made raised the exclusion amount to $5.34 million per person. It also introduced the concept of "portability", which allows a surviving spouse to add the unused portion of the decedent... »
1 11 12 13 14