Why is Funeral Planning a good idea?
Jul 05, 2013
Planning for your own death is not something that anyone enjoys thinking about. However, it is a necessary step to any well-formulated estate plan. The purpose of an estate plan it to make things as ea...
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Capital Gains Tax
Jul 05, 2013
Capital gains tax and its impact on real estate is one of the most widely-misunderstood nuances of modern tax law. Perhaps the most important concept related to capital gains tax is known as "tax basis...
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Estate Tax Update
Jul 05, 2013
Amid all the fanfare of Congress acting in the eleventh hour to stop a major income tax increase, many Americans have been left wondering what the Fiscal Cliff and the deal to avert it now means for th...
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Will my heirs pay taxes on my IRA?
Jul 05, 2013
A Tax-qualified retirement account, such as a traditional IRA, 401(K), 403(b) or other tax-deferred account can pose a unique challenge when planning for your estate. This is because any withdrawals fr...
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Beware of the Life Insurance Tax Trap
Jul 05, 2013
The term discharge of indebtedness doesnt mean much to the average person. The gist of it is that if you owe a debt and that debt is forgiven you can end up owing income tax on the forgiven amount.
An ...
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A cautionary tale of DIY Estate Planning
Jul 05, 2013
I recently came across another example of self-help estate planning gone drastically wrong. In this case, Mom was in her 80s and owned a family farm and a life-savings of conservative investments. She ...
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Is a trust better than a survivorship strategy?
Jul 05, 2013
Clients often ask me if they need a trust to avoid probate? And of course the answer is no. There are a variety of ways to avoid the hassle and expense of probate such as survivorship deeds, rights of ...
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Tips to Avoid Common Scams on the Elderly
Nov 18, 2012
It seems the holiday shopping season starts earlier every year. Along with it comes phone calls from charities asking for your help and your mailbox becomes full of advertisements stating you won a pri...
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New Gift Tax Limit for 2013
Nov 18, 2012
The IRS recently announced that the annual gift exclusion amount will increase to $14,000 per person in 2013. This means that an individual can gift up to $14,000 per person without having to file a Fe...
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Succession Planning for Your Business
Nov 18, 2012
Perhaps one of the most important questions for any business owner, whether they own an international conglomerate or a corner hot dog cart is who would take over if something happened to them. However...
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