Newsletter – June 1, 2013

N E W S L E T T E R   June 1, 2013 Re:  Wills, Trusts, Estate Administration, Corporate and Asset Protection Legal Matters   Dear Client/Professional: This letter is intended to provide you with an update of some of the types of work my clients and I are undertaking at the current time in case you or your clients have similar issues: 1.  The new tax laws allow individuals to gift or leave at death $5.25 million as an individual, $10.5 million as a couple. As a result of this new law many larger wealth clients are exercising their ability to make large gifts now in a sophisticated way so they can continue to control the assets. Married couples with less than $10.5 million are doing away with their two separate revocable trusts and using one joint revocable trust for simplicity purposes. This issue needs to be closely Continue reading

Newsletter – February 1, 2011

N E W S L E T T E R    February, 2011   The purpose of this newsletter is to inform you of certain provisions of the December, 2010 tax law that may affect your estate and business planning, and to make you aware of current planning issues being addressed by other clients at this time. There are many provisions of the new tax law but generally the tax law is a two (2) year extension of the income tax brackets that have been in effect, a surprise two (2) year estate tax reduction planning opportunity and two percent (2%) more in your employee’s paycheck. Income Tax Provisions        ∙ Income Tax Brackets stay the same in 2011 and 2012 as they were in 2010.  For higher income earners, there will be a substantial increase in income taxes in 2013, as well as new payroll taxes and passive income Continue reading

Newsletter – September 01, 2010

N E W S L E T T E R     September 1, 2010   Many clients have a reason to revise their estate plans prior to January, 2011.  In 2002 the amount that could pass estate tax free was $1 Million per decedent.  This estate tax free amount in 2002 was gradually increased until the current year, when a decedent can leave unlimited assets to heirs without estate taxes.   Effective January 1, 2011, the amount that can pass estate tax free per decedent reverts back to only $1 Million and the maximum estate tax rate is fifty‑five percent (55%).  This will affect all single clients with assets of more than $1 Million and married couples with combined assets in excess of $2 Million.   The ability of Congress to pass estate tax legislation is very suspect, as their record has proven.  Unless Congress passes tax legislation that it Continue reading