Submitted by Lon Jefferies on Tue, 09/16/2014 - 12:00pm
Inheriting appreciated assets from your deceased spouse can bring a host of financial complications at the time of life when you already have too much on your mind. Here’s the math to know how to be prepared – and maybe save on taxes.
Submitted by Elizabeth Anderson on Mon, 09/15/2014 - 3:00pm
The murkiest part of estate planning is to discuss when and how to distribute your assets to your heirs. This process requires a series of considerations and trade-offs to avoid emotion-laden family problems.
Up to now in our series of articles we focused on numbers, which are objective and straightforward. But when it comes to this final set of issues, things get gray because emotional factors drive decisions now. There is no correct answer on how to distribute your estate.
Submitted by Sue Stevens on Wed, 06/04/2014 - 3:00pm
The American Taxpayer Relief Act (ATRA) lets you leave millions to heirs tax-free. Our first two articles examined ATRA and various trusts. Here are some of the remaining tools you can use to bequeath assets and avoid a big estate tax bite.
You still need powers of attorney. Essential tools for managing disability, these are inexpensive and simple to set up.
Submitted by Sue Stevens on Mon, 06/02/2014 - 3:00pm
Our first of three articles looked at your estate planning considerations now that the American Taxpayer Relief Act (ATRA) is law and you can leave $5.34 million ($10.68 million for married couples) to heirs tax-free. Other kinds of trusts offer you various ways to leave money and save taxes.
Submitted by Sue Stevens on Wed, 05/28/2014 - 12:00pm
You can stop worrying about federal estate tax thanks to Congress passing the American Taxpayer Relief Act (ATRA) last year. Here’s what you still better think about, though, before bequeathing your estate.
Submitted by Ray Ferrara on Fri, 11/23/2012 - 12:00pm
The jockeying has begun in Washington among President Barack Obama, the Republican-controlled House and the Democratic-led Senate on taxes. How this plays out will affect us all. What should we look for?
Submitted by Larry Light on Fri, 09/07/2012 - 12:00pm
If you are thinking of making a substantial gift, you can save a lot of money in taxes if you act soon. The limits on what you can give tax-free may expire in January.
“It’s no secret the recipient isn’t the only one benefiting from a monetary gift,” notes Amy Jo Lauber, president of Lauber Financial Planning in Buffalo, N.Y. “True, you feel good doing something nice for someone else.” But, she adds, giving money may also reduce your gross taxable estate or transfer income-producing assets to a beneficiary in a lower tax bracket.