by Arthur Geffen | Dec 16, 2015 | Estate Planning, Tax Planning
There’s a dirty secret that when selling inherited property, some beneficiaries overstate the original value of it on their income tax returns to lessen the tax hit. That’s long irked the Internal Revenue Service, and a new law tucked into the summer’s highway...
by Arthur Geffen | Dec 11, 2015 | Estate Planning
Estate planning is a complex area of the law, with countless rules that can change from year to year. If you’re planning on doing estate planning for the first time in 2016, or merely want to make sure your current planning documents aren’t out of...
by Arthur Geffen | Nov 23, 2015 | Estate Lawyer, Estate Planning
Thanks to the 84th Legislature, Texans have a new, easy way to transfer real property to someone else upon their death. It does not involve going through probate court, which can be a lengthy and costly process. It also allows the owner to keep the exact...
by Arthur Geffen | Nov 6, 2015 | Estate Planning
WOW, how to lose $27 Billion in a flash. I think I could get by with $5 Billion!!! Ever since Wal-Mart heir John T. Walton died 10 years ago in a plane crash, it’s been widely assumed that he passed the bulk of his vast estate to his widow, Christy. Turns out...
by Arthur Geffen | Oct 30, 2015 | Estate Lawyer, Estate Planning, Estate Tax
Pretty interesting. The superrich are different from the very, very rich. For one thing, they own more art. Estate tax data recently released by the Internal Revenue Service show what the wealthiest Americans possess when they die—and where the money goes. First, a...
by Arthur Geffen | Oct 20, 2015 | Estate Planning, Estate Planning Solutions
THIS IS WHY YOU NEED TO TALK TO YOUR ESTATE PLANNER TODAY. But here’s the rub. Congress in 2012 raised the estate-tax exemption to $5 million per person, indexed for inflation. The exemption in 2015 is $5.43 million with a top tax rate of 40%. And the new law...
