estate planning
Don’t Forget Your IRA When Creating Your Estate Plan
The IRA is often overlooked when individuals meet with an attorney for estate planning. Perhaps this is because the IRA owners fill out the beneficiary designation form themselves and they believe they are capable of completing it on their own. … read more
To Convert or Not Convert
Are you eligible? This is the first hurdle when considering whether to convert your IRA to a Roth IRA. Before 2010, Roth conversions were limited to those individuals with modified adjusted gross income of $100,000 or less. In 2010, the … read more
Don't Forget About Charity When Considering a Roth IRA Conversion
It is a special year for Individual Retirement Accounts (IRAs). In 2010 any individual, regardless of their income level, can elect to convert a regular IRA to a Roth IRA. While many people are contemplating whether or not to do … read more
Continued Inaction on Estate Tax Poses A Dilemma
The Economic Growth and Tax Relief Reconciliation Act of 2001 (2001 Act) repealed the estate tax and the generation-skipping transfer (GST) tax for estates of individuals dying in 2010. To comply with budgetary rules, the 2001 Act contained a so-called … read more
Succession Planning and Taxes
Taxes play a part in just about everything we do or considering doing. Succession planning is no different and there are a multitude of techniques that are used to save taxes and to help one accomplish some of the family’s … read more
So you think that the Estate Taxes will be repealed in 2010
In 2001, as part of the Economic Growth and Tax Relief Reconciliation Act of 2001, Congress repealed the estate and generation skipping transfer tax effective for persons dying in 2010. However, after this one-year repeal the taxes are scheduled to … read more
Don't Let Poor Estate Planning Tear Your Family Apart
Even if your children are now grown with families of their own, I’ll bet that you can remember scenes of passionate sibling rivalry during their younger years. In some families the rivalry dissolves as the children age and mature, but … read more