» Tax Planning

New Estate Tax Law: The Good, The Bad & The Ugly

The Good Congress has passed and the President has signed into law the deal extending the Bush tax cuts and added some additional tax law changes. As it relates to estate tax planning, the key elements of the legislation are the following: Restoratio… Read More
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Estate Tax Repeal Law Update

The federal estate tax lapsed (was “repealed”) on January 1, 2010. But under current law, it will automatically rise from the ashes on January 1, 2011 and, unless Congress intervene, only $1 million per estate will be exempt from a stiff estate t… Read More
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LegalZoom Sued Over Flawed Estate Plan

LegalZoom, one of the most prominent sellers of do-it-yourself wills and other estate planning documents, is the target of a class action lawsuit in California charging that the company engages in deceptive business practices and is practicing law wi… Read More
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End of Year Tax Planning Considerations

As the New Year approaches, taxpayers around the nation are thinking about making gifts or other financial moves before January 1 that will benefit them come April 15, 2010. Here are some year-end considerations relating to gifting, distributions fro… Read More
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Uncertain Market Makes Prepaid 529 Plans More Attractive

With the stock market down significantly, some parents and grandparents are looking at safer ways to help a child or grandchild save for college. Prepaid 529 plans offer them (or any other family member) the opportunity to lock in tuition for the chi… Read More
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Deducting Assisted Living Facility Costs

The Internal Revenue Code provides an income tax deduction for medical expenses which include “qualified long-term services”1. However, the IRS provides special rules on deducting qualified long-term care costs as medical expenses. While the cost… Read More
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The Perils of Owning Assets Jointly

Joint ownership arises where two or more people own an undivided interest in an asset or property. When one of the owners dies, the entire ownership passes automatically to the surviving joint owner without going through probate. Because the use of j… Read More
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