Blog - "Altman Speaks"

New Federal Tax Reform Estate Planning | Winning Strategies

Americans have been listening to talk this new Federal Tax Reform Estate Planning issue for months. Not a day goes by that this topic isn’t featured in a news story or discussed on the radio. So what does the new federal legislation -- the Tax Cuts and Jobs Act passed by Congress at the end of […]

Divorce and Estate Planning

What to do with your estate plan after a divorce Marriage is a wonderful part of many couple’s lives and it’s easy to say that no one gets married with the intention of eventually splitting up down the road. Unfortunately, for nearly half of all marriages in the U.S. divorce is inevitable. Divorce can often […]

IRS Encourages Taxpayers to Use Their New Withholding Calculator

The IRS recently released a new online tool to help taxpayers make sure they have the correct amount of tax being withheld from their paychecks at work. The "Withholding Calculator" performs a quick check-up to protect against having too little tax withheld, which could cause an unexpected bill or penalty come tax time. At the […]

Decanting Trusts

If you don’t like the terms of your trust, there may be a way to change it and protect your best interests Historically speaking, one of the cornerstones of an irrevocable trust has been that it was, in fact, irrevocable. However, recent changes to estate laws in several states now allow trustees to decant a […]

Maryland ABLE Savings & Investment Plan Now Available

The Maryland ABLE savings & investment plan has officially launched. Maryland ABLE accounts are a new way to help individuals with disabilities save money and pay for qualified disability-related expenses without jeopardizing state or federal means-tested benefits such as SSI or Medicaid. Maryland ABLE is focused on helping citizens with disabilities achieve greater financial security, build […]

Remembering Marcy Kelly

I just learned that a colleague and close friend of mine, Marcy Kelly, died unexpectedly. Marcy was a CPA and financial planner. I was absolutely devastated to learn of Marcy’s sudden passing. She was truly an extraordinary person and will be greatly missed by her family, her friends, her clients and her colleagues. I had […]

Veterans Benefits

What Veterans Benefits Am I Eligible to Receive? The Department of Veterans Affairs (VA) offers several valuable benefits for veterans of the United States military, including pension programs, health care, disability compensation, education assistance, and post-traumatic stress order (PTSD) support. If you or a loved one is a veteran of the U.S. Armed Forces, you […]

DC Estate Tax Exemption Update

Pursuant to a law passed in December, the District of Columbia's exemption from estate tax shall equal the Federal exemption from estate tax, or currently, $11,200,000 per person. Unlike the Federal law, D.C. does not allow for a deceased spouse to inherit any unused exemption from estate tax (referred to as “portability”). Therefore, if a […]

Gary Altman Selected as Maryland 2018 “Super Lawyer” and Washingtonian "Top Estate Attorney"

Gary Altman, Esq., founder of the Maryland-based estate planning law firm Altman & Associates, has been named a 2018 Maryland "Super Lawyer" in their Estate Planning and Probate category. The acknowledgement, also published by Washington Post Magazine, Baltimore Magazine and Washington Lawyer Magazine, marks Altman’s 12th year in a row making the list and compliments a year of exciting changes for […]

IRS Advisory: Prepaid Real Property Taxes May Be Deductible in 2017 if Assessed and Paid in 2017

An important message regarding pre-paying 2018 state and local property taxes from IRS.gov, dated Dec. 27, 2017: WASHINGTON - The Internal Revenue Service advised tax professionals and taxpayers today that pre-paying 2018 state and local real property taxes in 2017 may be tax deductible under certain circumstances. The IRS has received a number of questions […]

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