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 23, 2010 | Estate Planning, Estate Tax
Estate planning attorneys will now need to meet with their existing will or revocable trust clients, or with new clients with old wills or trusts, to make sure that their existing wills or trusts, which may have been drafted during an era when there was...
by Arthur Geffen | Dec 23, 2010 | Estate Tax, Income Tax, IRS
Congress adjourned its year-end lame-duck session on Wednesday after passing legislative fixes for several pending tax issues, including the estate tax, the expiration of the 2001 and 2003 tax cuts, an alternative minimum tax (AMT) patch, and extensions of many...
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...
by Arthur Geffen | Dec 21, 2010 | Income Tax
Compare the benefit of accelerating deductions and postponing income under new law which provides for an extension of low tax rates through 2012. Consider taking a tax free distribution from your IRA up to $100,000 to satisfy charitable contributions. Review...
