Blog - "Altman Speaks"

Tribute to Cellist Dmitry Volkov of the Heifetz International Music Institute

Altman & Associates is deeply saddened by the passing of 26 year old cellist, Dmitry Volkov, who played for the Heifetz International Music Institute. Serving as a Co-Trustee for the Doris M. Carter Foundation, a supporter of Heifetz, I had the privilege of seeing Dmitry perform just last month. He was an exquisite musician with […]

Lesbian Veteran's Wife Denied Burial Spot at Veteran's Cemetery

Navy veteran, Madellyn Taylor, never imagined that she would be denied a burial spot next to her deceased wife, but that's exactly what happened last December in Idaho. Taylor went to the Idaho State Veterans Cemetery with her Navy discharge papers and a California marriage license to secure a spot for her and her wife in […]

The (Market) Value of a Mom

A fascinating video offering insight as to what a mother's salary would be if she were actually being paid for the job. We hope you'll share it with the mothers in your life. Happy Mother's Day! - The Altman & Associates Team

New York Adopts Laws that will Effect Estate Planning

New York as recently adopted laws that will effect estate planning: 1) New York Estate Tax: The New York estate tax exemption amount, which was previously $1 million per person, will increase each year over the next five years. On and after January 1, 2019, the New York estate tax exemption will match the federal estate tax exemption […]

Maryland is Revising their Estate and Trust Laws

As previously reported, Maryland has increased its estate tax exemption level. In 2015, the amount that passes free of Maryland estate tax will be $1,500,000 By the year 2019, the amount that passes free of Maryland estate tax will be exactly the same amount that passes free of Federal estate tax, and will thereafter increase […]

"When Your 401(k) Has a Bad Heir Day"

A recent Wall Street Journal article stresses the important connection between 401(k)s, wills and beneficiaries. When Your 401(k) Has a Bad Heir Day By Jason Zweig Even where there is a will, there can be a won’t. That is the hard lesson learned by the three adult children of a wealthy telemarketing executive who died suddenly last […]

"The 'Double Life of Mickey Rooney" - A Cautionary Tale

Mickey Rooney will certainly be remembered as an iconic Hollywood figure. However, what many don't know is that by the time this legendary actor passed away at the age of 93, he had an estate valued of about $18,000. Rooney was a victim of elder abuse - physical, emotional and financial. In March 2011, he […]

Please Don't Let This Happen to You!

I received a phone call today from a prospective client who informed me that her father had just had a stroke and was in very bad health. The concern was that the father had been separated from his wife for over 20 years, but had never signed any sort of power of attorney or living […]

IRS Announces Changes to Annual IRA Rollover Limit Following Tax Court Decision  

The US Tax Court recently decided that the rule limiting IRA-to-IRA rollovers to one every 12 months applies on a per-taxpayer basis to all of his or her IRAs rather than a per-IRA basis. In turn, the Internal Revenue Service announced that it would be following suit, applying the rule on an aggregate basis, meaning no matter […]

Maryland General Assembly Passes Bill Increasing Estate Tax Exemption

In an effort to keep wealthy Maryland residents in Maryland, the Maryland General Assembly voted to cut the state's estate tax. Unless vetoed by Gov. O'Malley, the new law would raise the exemption to $1.5 million next year and $2 million in 2016. The exemption would rise to $3 million in 2017 and $4 million […]

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