So, you’ve decided to look your mortality in the eye and sign a will. Congratulations, you’ve done the hard part. Now get some expert help, and do it the right way. Executing a will means you aren’t going to accept the state’s menu of prefab “wills” contained in its intestacy law. Those state provisions are… Read More
Death taxes have driven millionaires from Pennsylvania which has an inheritance tax to states like Florida where there is no death tax. But that is small potatoes compared to what is happening to our country’s billionaires. Not only do taxes drive the wealthy to other states, they drive them to other countries. Consider the case… Read More
If you want to leave something to charity when you pass away and you have a traditional IRA, naming a charity as an IRA beneficiary is an excellent strategy. Under current tax law, your IRA balance will be included in your estate for federal estate tax purposes. If you pass away with a taxable estate… Read More
In 2012 the exemption from the federal estate tax is $5 million. It has risen in leaps and bounds from $600,000 in 1997 to the current $5 million. Part of the tax uncertainty facing us is that unless Congress acts before the end of 2012, the estate tax exemption will fall back to $1 million.… Read More