by Arthur Geffen | Aug 10, 2011 | Estate Planning, Estate Planning Solutions, Estate Tax
With the current $5 million federal estate tax exemption, you may not be thinking much about estate planning. After all, there’s no way your estate would owe the tax if you happen to die between now and 2013. So no worries, right? Wrong Make This Estate...
by Arthur Geffen | Jul 7, 2011 | Estate Planning, Estate Planning Solutions
The tax legislation enacted at the end of 2010, just before we were scheduled to return to a top federal estate and gift tax rate of 55 percent and an exemption of only $1 million, provided three significant changes in the federal estate and gift tax laws: 1. A...
by Arthur Geffen | Jun 27, 2011 | Estate Planning, Estate Planning Solutions, Estate Tax, Generation Skipping Tax, Gift Tax
According to CCH, a leader in tax and accounting services and software, here’s how things will change at the end of 2012 unless, of course, Congress tinkers with the rules again: 2011-2012 2013-? Maximum Tax Rate 35% on excess over $5 million Phases in starting...
by Arthur Geffen | Jun 15, 2011 | Estate Planning, Estate Planning Solutions, IDGT
The IDGT Strategy’s Components A sale to an intentionally defective grantor trust (IDGT) is a strategy with two primary components. The first component is the IDGT. An IDGT is termed “defective” because, although a transfer of property to the trust is...
by Arthur Geffen | Apr 14, 2011 | Estate Planning, Estate Planning Solutions
Here are 10 things NOT to do in implementing or revising your estate plan: 1. Use non-experts for advice. 2. Forget to fund your living trust. 3. Own large bank or brokerage accounts as joint tenants. 4. Forget to have your will and living trust reviewed every few...
