Predicting the future of the estate tax is a futile effort, but keep your eye on Congress and your State Legislature. Your ongoing vigilance will help make sure your loved ones do not pay more tax than the law requires.
Posts Tagged: estate tax
Fundamental Estate Planning
For many of us, estate planning is an uncomfortable subject. That’s understandable, but there are adverse consequences to avoiding it.
Roth IRAs offer powerful planning opportunities
Roth IRAs offer some great planning opportunities, largely centered around the fact that they do not entail “required minimum distributions.”
The Latest Temporary Estate Tax Rules
Now we know what the gift, estate, and generation-skipping transfer tax rules will be–for the next two years, as Congress passes the “tax relief” bill that we have been hearing so much about. There may be good reason to breathe a sigh of relief, but not to put off estate planning.
From THE NEW YORK TIMES (SEPT. 15, 2010): DEVISING STRATEGIES WHILE THE ESTATE TAX IS IN LIMBO
The federal estate tax is scheduled to rise from the ashes on January 1, and many Hawaii families will feel its bite unless Congress changes current law.
Estate Tax is One More Reason to Hate the Yankees
This is an excerpt from a clever piece written by an obvious Boston fan named Jim Moniz, who is president and CEO of Northeast Wealth Management, a Braintree, MA-based company that focuses on the needs of high-net-worth individuals and professionals. It underlines the importance of being aware of what Congress is doing (or not doing) regarding the estate tax–the tax on the privilege of owning stuff when you die–and how that might affect you and your loved ones.
How to Make the IRS and Lawyers Prosper at the Expense of Your Beneficiaries
A scenario that plays out far too often: a parent’s intended beneficiaries lose most of their inheritance to the IRS, court costs, and lawyers. This recent Tax Court case provides a cautionary tale about the perils of incomplete planning.
2010 is the Year of No Estate Tax; Watch Out for 2011
By dying in 2010, the billionaire and long-time New York Yankees owner’s wealth avoids the federal estate tax, likely saving his heirs enough money to field an entire team of Alex Rodriguezes.
Too Rich to Live? – WSJ.com
It’s looking more and more like the estate tax will be coming back with a vengeance in 2011. It’s not too early to plan for how to minimize the bite. This WSJ article provides a pretty good explanation of the current situation and future prospects.
Estate Tax Dormant, Billionaire’s Bequest Is Tax-Free – NYTimes.com
Dan L. Duncan, a soft-spoken farm boy who started with $10,000 and two propane trucks, and built a network of natural gas processing plants and pipelines that made him the… Read More »