The passage of the New York Marriage Equality Act back in 2011 had some profound implications from an estate planning perspective. Here in New York we have a state estate tax, and in 2013 there...
Every year on New Year’s Eve people anxiously await the countdown. This year we had another countdown as the lawmakers in Washington tried to come up with a budget compromise before 2012 came to a...
If your total assets exceed the amount of the federal estate tax exclusion, which is $5.25 million in 2013, you have to look for ways to gain tax efficiency. One possibility would be to use...
The federal estate tax is potentially applied to the transfer of assets that exceed the exclusion amount that is in place at the time of an individual’s death. We include the qualifier “potentially” because there...
If you find that you are in possession of assets that exceed the lifetime unified gift/estate tax exclusion amount you have some decisions to make. First off you have to determine whether or not you...
The estate tax thresholds are changing at the end of this year and homeowners should certainly conduct an inventory sooner rather than later in light of these changes. The value of your home does indeed...
Intelligent retirement planning requires a crystal ball of sorts. You have to be able to look into the future and make projections regarding your anticipated expenses. If you go forward without making specific calculations you...
Inheritances are in a literal sense gifts that are given posthumously. People who see things in this light sometimes consider giving gifts to loved ones while they are still alive. You may wonder about the...
There are two sides to the ledger when you are evaluating your retirement preparedness. On the one hand you must accumulate savings to provide an underpinning while developing a solid ongoing income stream. But in...
The federal gift tax is unified with the estate tax, and it is in place to prevent people from giving away their resources while they are still alive in an effort to avoid the death...
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