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Bernie Sanders Proposes Estate Tax Hike
July 8th, 2015
The Presidential election season is officially underway even though a primary election will not be held for another half a year. As in all recent election seasons, we can expect the candidates to come out with a position on the estate tax. Bernie San…
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Billionaire Giving Pledge Is Not Binding
June 18th, 2015
When they created the Giving Pledge, Bill Gates and Warren Buffet received a lot of praise and publicity. Billionaires who have joined the pledge have received the same. It might surprise you that the pledge is non-binding and unenforceable. However,…
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Estate Tax On The Way Out in Delaware?
June 12th, 2015
Delaware has become the latest state to entertain the idea of eliminating its estate tax. The reason for doing so is interesting. Republican legislators in Delaware have introduced a proposal to end the state's estate tax effective July 1 of thi…
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Tags: Estate Tax
The Estate Tax and Your Non-U.S. Citizen Spouse
April 6th, 2015
If you are married to a non-U.S. citizen, you need to know that the estate tax options for your spouse will be different if you pass away than if you were married to a U.S. citizen. This knowledge will help you to protect your spouse from the most de…
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Drug Testing before Inheritance?
April 3rd, 2015
Before people can receive many types of federal assistance, they are often required to pass drug tests. Should they also be required to pass drug tests before they can receive a tax free income? One representative appears to think so. D…
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Beware! Pay Attention to Your State Death Taxes
May 20th, 2013
Even if death and taxes are the only things certain in life, state legislators say they can never be certain about death taxes. The fiscal cliff-bridging budget set and made “permanent” the estate tax at a generous $5.25 million exemption amount.…
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Categories: Estate Planning
Spring Cleaning Applies to Estate Plans Too
May 8th, 2013
Consider the people who fill out forms designating who inherits assets like an insurance policy and then never go back and revise the forms when, for instance, they divorce and remarry. And then, there are the parents who have not determined who will…
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Categories: Uncategorized
The Credit Shelter Trust – An Old Standby Tool
May 2nd, 2013
Even if your state has no estate or inheritance tax, there are other reasons to have a credit shelter trust. Here are a few … Even amongst recent tax law changes, there are certain estate planning tools that are still good ole’ standbys for your…
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Categories: Estate Planning
Don’t Forget About Estate Taxes at the State Level
April 19th, 2013
Although the new $5.25 million exemption shields the vast majority of estates from federal taxes, state estate taxes are alive and well. Currently, 21 states and the District of Columbia impose some type of death tax, and most kick in at a level much…
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Uptick in IRS Audits of Estate Tax Returns
April 16th, 2013
The IRS' focus on estate tax returns resulted in the collection of $1.1 million more in additional tax revenue for the 2011 tax year. Nobody wants to hear from the IRS …and I mean nobody. Typically the IRS would only contact you for an audit,…
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Categories: Taxes
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