IRA and Tax Planning

Advanced Planning = Lower Estate Taxes

Currently, up to $3.5 million of an estate’s value is exempt from Federal estate tax for deaths occurring in 2009. In 2010, the estate tax is scheduled to expire for a period of one year, returning in 2011 with a lower $1,000,000 exemption. That is, unless Congress has anything to say about it. Estate taxes […]

Where Estate and Income Taxes Meet - Don’t Pay More Than Necessary!

A financial advisor contacted me recently regarding one of her clients. A widow died in 2006, leaving her estate to her daughter. Her estate included US Savings bonds of $350,000, of which $280,000 was interest which she had never paid tax on. The daughter had the bonds changed to her name, thereby deferring the income […]

Federal Estate Tax May Remain at 2009 Levels

I have heard that members of a House and Senate negotiating committee have worked out a compromise on estate tax reform. While details are still not know, it appears that the estate tax would be kept permanently at the 2009 levels. This means that individuals could exempt $3.5-million from Federal estate taxes and a couple, […]

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 The estate tax is currently scheduled to be repealed in 2010 and reinstated in 2011 with an exemption of $1,000,000.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 […]

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