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On December 17, 2010 President Obama signed into law the “Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010.” The new law: • Extends for two years the current income tax rates and other income tax rates commonly called the “Bush Tax Cuts.” • Provides tax incentives to businesses • Cuts federal estate [...]
Estate administration in New Jersey is the process by which a deceased person’s property, known as the ‘estate,’ is passed to his or her heirs and legatees (people named in the will). Estate administration encompasses all assets of the decedent – real estate, joint accounts, insurance, IRA’, etc. – anything and everything a decedent had [...]
A power of attorney is a very important estate planning tool, but in fact there are several different kinds of powers of attorney that can be used for different purposes. Before executing this crucial document, it is important to understand what your options are. A power of attorney allows a person you appoint — your [...]
Few things get people madder at their estate planners than fights over who must pay taxes when someone dies. A big source of trouble: the patchwork of state rules that apply. Most states say those who inherit have to share the tax burden for an estate. Many wills include provisions designed to take care of [...]
Where physicians are most likely to lose wealth is through bad marriages, bad investments, bad tax planning, or a combination thereof.
This year the annual gift tax exclusion is $13,000 per person and in 2010 the exclusion will remain the same.
Delaying these discussions can lead to significant family hardship and a loss of highly prized and hard-earned assets.
Do not try this at home alone. Consult with your tax adviser to determine the best course of action regarding your entire tax liability.
If you aren’t a citizen or resident of the United States, and want to own U.S. shares, don’t hold them in your own name.