Blog - "Altman Speaks"

Extension of Time to file Portability Return

Effective July 8, 2022, the IRS has extended the time frame for electing portability from 2 years to 5 years after the decedent’s death under IRS Revenue Procedure 2022-32. What is portability? Portability is an estate planning tool and a way for spouses to combine their exemption from estate and gift tax. A surviving spouse […]

Tax Codes

The Tax Cuts and Jobs Act (TCJA) The Tax Cuts and Job Acts of 2017 made significant changes to the IRS tax code. While most people were looking at the reforms to the individual income tax, itemized deductions, childcare tax credit, and more, our job was to pay attention to the estate and gift tax exclusions. The […]

QTIP Trust - Will My Spouse Have What They Need?

What is a QTIP trust? A qualified terminable interest property (QTIP) trust is an estate planning tool that married couples can use to minimize uncertainty about the future and maximize certain tax advantages. Since no one can predict how much they will own during their death, which spouse will die first, whether the surviving spouse […]

Estate Planning for the Family Business

Business owners are playing with fire without a business succession plan. A business succession plan is key to the continuity of operations of a family business, and an estate plan should integrate the succession plan for a family business with estate planning. Many people recognize the need for such a plan, but they struggle with understanding why […]

Estate Planning for International Families

The importance of proper tax and estate planning is magnified for “international families” who hold assets and citizenship both in the United States and overseas. Such families typically have business, family, and personal interests in two or more countries, and could be: International estate planning is complicated International families typically have very specific estate planning […]

Potter Update: Informal Business Succession Planning Takes Another Twist

The rules regarding estate planning through business agreements are changing again. As this blog discussed in 2021, the Maryland Court of Special Appeals held that the operating agreement of a Maryland LLC could not control the disposition of a member’s interest after their death. Potter v. Potter, 250 Md. App. 569, 252 A.3d 17 (2021). […]

Make Sure Your Kids Are Prepared with This Summer Camp Checklist

The past couple of weekends I have been attending several graduation parties whether from 8th grade, High School, College, and Thursday for my daughter Jill, who will graduate with her master’s in education. Summer camps are expected to be back in full swing this year after two pandemic summers forced them to close or operate […]

Transfer on Death Deeds

Transfer on Death Deeds, and transfer on death accounts TOD or paid on death accounts, can be a low-cost and simple way to avoid probate when transferring real or other property. I have outlined below common issues that arise with transfer on death deeds. Transfer on Death Forms or Deed Upon Death Forms Many people […]

Memorial Day Message from Altman & Associates

“Our debt to the heroic men and valiant women in the service of our country can never be repaid. They have earned our undying gratitude. America will never forget their sacrifices”. President Harry S. Truman Memorial Day is an American Holiday to show, honor, respect, and remember those American patriots who gave their lives to […]

Mental Health Considerations in Estate Planning

This past weekend was a horrific one for families across our country, Buffalo, Los Angeles, Milwaukee because of gun violence and mental health. It made me think of mental health considerations in estate planning. Removing the stigma of mental health starts with realizing that many people—about one in five of all US adults--are affected […]

« Previous 1 … 8 9 10 11 12 … 67 Next »

Subscribe

Receive our new blog articles in your email inbox.

Name*
First Last
Email*
CAPTCHA
Phone
This field is for validation purposes and should be left unchanged.

Categories

Recent Posts

A Guide to the Corporate Transparency Act

Can a Beneficiary Also Be a Trustee of a Trust

Who Makes the Best Pizza?

Gary Altman named Washingtonian's Top Wealth Adviser Hall of Fame for Estate Planning

First Massachusetts Now ???

Legislative Alert - Transferring Certain Firearms into Your Gun Trust

Hope Connections: Estate Planning with Gary Altman

Hiring a Professional to Be Your Trustee

Gary Altman presenting on “Allocating Capital Gains to Distributable Net Income (DNI) and Allocating DNI to Charities in Estates and Trusts: Achieving Optimal Tax Treatment.”

Coryn Rosenstock Presenting with the Bar Association of Montgomery County, Estate & Trust Law Section

« Previous 1 … 8 9 10 11 12 … 79 Next »