Blog - "Altman Speaks"

A Word of Caution When it Comes to Gifting 529 Plans

A client came to me recently with a very unfortunate story. Her Great Uncle, Bud, from NY, a single man with no children, had passed away a few months prior and, as is too often the case, he hadn’t properly updated his will before he died. Like many, he procrastinated. This unfortunate mistake resulted in […]

New Law: No Required Minimum Distribution from Your Retirement Accounts in 2009

If you or someone in your family is 70½ or older (or will be this year), or if you have inherited a loved one’s IRA or other retirement plan, here’s important news: A recent law waives the requirement that you must take a required minimum distribution from your retirement accounts. This includes 401(k) plans, 403(b) […]

New Tax Law Changes Could Save You Dollars

While these are not estate tax related, I wanted to share some information on new income tax provisions that may very well impact you! Here are some of the key provisions: One of the biggest breaks will come from changes in the Alternative Minimum Tax (AMT), which could mean a $2,300 savings for a family of […]

Are We in Your Wallet?

Advance planning is always important, but in ways we sometimes do not anticipate. In our practice, after a client signs their estate planning documents, they are sign the back of one of our business cards, stating that they have appointed so and so to make medical decisions and that a copy of the documents is […]

Significant 2009 Estate Tax Law Changes

hese changes in the law provide an ideal opportunity to review your current estate plan: Federal Estate Tax The federal exemption for estate tax has increased from $2,000,000 to $3,500,000 for 2009. The estate tax is currently scheduled to be repealed in 2010 and reinstated in 2011 with an exemption of $1,000,000. I believe that […]

What Changes the New Administration May Bring

“Estate Planning in 2009” – What Changes the New Administration May Bring By: Gary Altman, Esq. It’s the beginning of the New Year and in a few short weeks, Barack Obama will take office as President of the United States. As we all well know, “change” has been the primary theme and driving force behind […]

Top Ten Year-End Estate Planning Tips

1. Use It or Lose It — Use Your Annual Exclusion The annual gift tax exclusion amount is the amount a person can gift to any number of recipients without a gift tax consequence. This amount is $12,000 ($24,000 for gifts from husband and wife; i.e., split gifts) for 2008. The annual exclusion amount will […]

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Recent Posts

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