The Fourth Annual Estate Planning and Community Property Seminar will be held on February 24th at Texas Tech University Law School. Speakers will include: Professor Mark Ira Bloom, Professor Jeffrey N. Pennell, William D. Pargaman, Professor Gerry W. Beyer,...
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Kara Friedenberg discusses the future impact of the new tax imposed by the Patient Protection and Affordable Care Act. The law imposes on individuals, estates, and trusts a new Medicare tax equal to 3.8 percent on net investment income....
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The IRS ruled that the beneficiaries of a marital trust are eligible beneficiaries; that an IRA established to receive distributions from the deceased spouse's pension plan on behalf of the marital trust will be treated as an inherited IRA...
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The Wealth Strategies Journal has posted a new article entitle "2011 in Review" by Robert Moshman, Esq.From the article: "The past year, 2011, was undoubtedly commendable in many respects that will become evident to historians someday...but for the rest of us,...
Friction can arise when a loved one dies and leaves a vacation home to family members. A family member who lives a long distance away and lacks money to maintain the inherited property often opts to sell his or her...
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While the economy is still sluggish to say the least, there are a lot of very happy people in silicon valley. Many new internet companies have had their IPO and with it newly minted millionaires (and billionaires). For financial companies,...
The Wealth Strategies Journal has posted a new article entitled. "New Risks for the New Generation: Encouraging Families and Family Owned Businesses to Implement a Family Risk Management Policy," by Patricia M. Annino.From the article: "Families and family owned...
Form 8939 (Allocation of Increase in Basis for Property Acquired From a Decedent) is due on January 17, 2012 for the estates of decedents who died in 2010. This form is required if the executor chooses to elect out...
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The law firm of Mcguire Woods has recently published a legal update on developments in fiduciary administration law. The various updates and topics are discussed by examining nine recent cases dealing with various topics in fiduciary law. For the full report See "Mcguire Fiduciary...
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When an American lives abroad, the most common examples of taxable gifts are property and monies given to ones children and grandchildren. The rules for levying transfer tax are roughly the same for expats as they are for U.S. citizens...
The article discusses steps that heirs can take to figure out how much money is owed to the state or IRS. The first recommendation is to take inventory. Heirs must make sure to determine what the estate is truly worth. The...
Experts agree that there will be a surge in estate tax planning to take advantage of an estate exemption that expires at the end of 2012. The exemption allows an individual to pass on $5 million dollars in assets tax-free. ...
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Estate planning is generally considered to be a good idea. However, not realizing that each individual will need to have an estate plan that is tailored to their needs and future outlook is not the best idea. Specifically, factors such...
The Wealth Strategies Journal has posted a new article, entitled "When Higher Marginal Tax Rates Helped the Economy: Professor Paleveda's Paradox," by Nick Paleveda, MBA, JD, LLM.From the article: "Generally, it is the thinking of the hoi palloi that...
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The Wealth Strategies Journal has posted a new article, entitled "Cross Purchase," by Martin M. Shenkman, CPA, MBA, JD.Summary: Buyout agreements are vital to family and closely held businesses. With the economic turmoil and rapidly changing laws you need to...
