The Essence of Estate Planning: Let the Journey Begin

At its most fundamental level, estate planning is about controlling the otherwise-uncontrollable. Death is inevitable; disability is increasingly probable as we age. When death or incapacity occurs, what happens to us, to our property, and to our loved ones? Planning in advance and taking advantage of our many applicable federal and state laws allows us [...]

Time is Running Out for Those Who Want to Save Taxes and Provide Huge Benefits to Their Loved Ones!

As readers of our newsletter should already be aware, the 2010 Tax Act is set to expire, or “sunset,” at the end of  2012.  This means that the laws regarding the federal wealth transfer taxes, which are the gift, estate and generation-skipping transfer or “GST” taxes, will all revert to pre-2001 law, including significantly lower [...]

The 2010 Tax Act, Gifts, and Perpetual Dynasty Trusts – The Perfect Estate Planning Combination

One of the many provisions of the tax law which became effective on December 17, 2010 (the “2010 Tax Act”) was a provision which effectively created federal gift and generation-skipping transfer (“GST”) tax exemptions1 of $5,000,000 for each individual U.S. citizen or U.S. permanent resident. Another provision made these exemptions subject to indexing for inflation [...]

2010 Tax Act and Videos

For this edition of our monthly Newsletter, the Passionate Estate Planner, we are going to try something different. Richard recently gave a speech at the 2011 Fiduciary Law Institute on important planning under the temporary 2010 Tax Act. While this speech was given primarily to other estate planning attorneys at this prestigious Georgia Institute, we [...]

2011 & 2012: The Golden Gifting Years

As you should now know, The Tax Relief, Unemployment Insurance, and Job Creation Act of 2010 (the “2010 Tax Act”) became law December 17, 2010, and made a number of changes to the federal wealth transfer tax laws.  The federal wealth transfer taxes are the estate tax, the gift tax, and the generation-skipping transfer (“GST”) [...]

2011 and 2012 May Be The Golden Gifting Years

The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (the “2010 Tax Act”) made a significant number of changes to the federal estate, gift, and generation-skipping transfer (“GST”) tax laws. One of the biggest changes is a massive increase in the federal lifetime gift tax exemption: this exemption rose from $1,000,000 for [...]

2016-04-01T15:27:12+00:00February 1st, 2011|2010 Tax Act, Articles, News|

To What Extent Should You Rely On Temporary Wealth Transfer Tax Changes Made By the 2010 Tax Act?

The Tax Relief, Unemployment Insurance, and Job Creation Act of 2010 (the “2010 Tax Act”) was signed into law by President Obama on December 17, 2010. Among the 2010 Tax Act’s many provisions were a number of items relating to the federal wealth transfer taxes, which are the estate tax, the gift tax, and the [...]

You Need to Act Now if You Want to Take Advantage of Certain Year-End Estate & Tax Planning Opportunities!

As noted in the News Alert we sent out on December 20, 2010, the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (“2010 Tax Act”) is now the law of the land, after having been signed by President Barack Obama on Friday, December 17, 2010. What does the 2010 Tax Act mean [...]

2016-04-01T15:35:44+00:00December 27th, 2010|2010 Tax Act, Articles, News, Newsletters|

Major (But Temporary) Changes Just Made to the Estate Tax, Gift Tax, and Generation-Skipping Transfer Tax Laws

Just past midnight on December 17, 2010, the federal House of Representatives voted to pass “The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010” (the “2010 Act”). This bill, which was the result of negotiations between the Obama administration and Senate Republicans, had already passed the Senate, was then signed into law [...]

The Time to Act is Now For Incredible Tax Planning Opportunities

What do you get when you mix low business, real estate, and other asset values with historically low interest rates and a historically low gift tax rate? Incredible tax planning opportunities! The economic turmoil which surrounds us today has caused many people to freeze, afraid to make changes to their assets. However, this same economic [...]

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