Posts Tagged ‘Estate Tax’
An Introduction to High-Net Worth Estate Planning
Estate planning is an important concern for anyone who desires their affairs be handled according to their wishes after their death. Planning for high-net worth individuals and families is complex and dependent upon the particular desires of the family. High-net worth estate planning should be handled carefully, so that your estate, which you’ve worked hard…
Read MoreHow Estate Taxes May Impact your Life Insurance Policy
In the process of estate planning, there are many things to consider. An estate planning attorney can be essential to formulating a sound plan that is best tailored to your individual situation and long-term legacy. Life insurance is a staple of many estate plans, but there is one factor that is often overlooked when people start thinking…
Read More"We are Family": Estate Planning for Adult Children Living at Home
With the state of the economy, the low unemployment rate for graduates, and the general cost of living, many children are continuing to live with their parents long after they turn eighteen. Having an adult child live with you can simultaneously be a benefit and a burden. Children at home can assist with the tasks…
Read MoreDon’t Leave Your Legacy to Chance: Estate Planning For Lottery Winners
It seems pulled from the pages of a mystery story, but you may have heard it in the headlines recently. What happens if you win the lottery but die mysteriously shortly after? Urooj Khan may have gotten lucky when he hit the jackpot for $1 million in the Illinois Lottery, but shortly after things took…
Read MoreAnother Estate Tax Deadline Looming
By November 15, 2011, an important estate planning decision must be reached: either opt to have the imposed federal estate tax rate reached last year by President Obama and Congressional Republicans, or opt out. If you opt-in, then assets on your estate are subject to a 35% tax rate after the first 5 million dollars;…
Read MoreFederal Estate and Gift Tax Changes
The tax legislation enacted in late 2010 has five significant components: 1) The federal estate tax exemption for individuals dying in 2011 and 2012, is $5 million with a federal estate tax rate of 35%. Beneficiaries who receive assets from individuals dying in 2011 and 2012 will receive a ‘step up” in bases to the…
Read MorePortability Under the New Estate Tax Law
As many of you know, new tax legislation will be taking effect on January 1, 2011. Among other things, the new law raises the estate tax exemption to $5 million per individual and $10 million for a married couple.
Read MoreThe Estate Tax Conundrum
The Boston Globe recently reported that tax cuts remnant from the Bush administration imposed no estate taxes in 2010.
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