by Arthur Geffen | Mar 2, 2011 | Estate Attorney, Estate Planning
“Tax season is an important time for families to think about saving for college,” said Nancy Farmer, president of Tuition Plan Consortium, a national group of private colleges and universities that sponsors the Private College 529 Plan Paying for college? Pay...
by Arthur Geffen | Feb 10, 2011 | Estate Planning
WHEN Robert Hassler of Larchmont, N.Y., went to see a lawyer last fall about devising an estate plan, he received two pieces of unexpected advice: wait until Congress enacted changes in tax law, which it did in December, and remain flexible in your planning, so...
by Arthur Geffen | Dec 28, 2010 | Estate Planning, Estate Planning Solutions
With an AB trust, the assets in an estate of, say, $4 million would be divided half and half between A and B spouses, thus doubling up on the exclusion. However, the creators of the AB Trust had to pay a price in the form of an income tax. That, says Klueger,...
by Arthur Geffen | Dec 23, 2010 | Estate Planning, Estate Planning Solutions
The sweeping tax overhaul that President Obama signed Dec. 17, raising the exemption from federal estate tax to $5 million a person, includes a wonderful new break for widows and widowers. Starting in 2011, they can add the unused estate tax exemption of the...
by Arthur Geffen | Dec 22, 2010 | Generation Skipping Tax
The new tax law contains some good news for wealthy families who wish to transfer assets via trusts to younger generations without having to pay a “generation skipping transfer” tax. But those who wish to take advantage of such transfers need to act...
