Estate

Last Chance Forever?

[dropcap1]If[/dropcap1]you have a net worth over $1,000,000, you may need to take action in the next few days.  On January 1, 2013, the estate tax rules are poised to reduce the Unified Lifetime Gift Tax exclusion from $5,120,000 to $1,000,000.  Don’t think it’s a big deal?  Want to just wait and see?  Your inattentiveness to …

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You Gave How Much??

$5,120,000.00!!!  That’s how much someone can give away this year and not be on the hook for gift taxes.  Why this exact amount?  Because congress decided to put an “estate tax patch” good through the end of 2012 for the existing estate tax code.  Additionally, any amount exceeding that limit will ‘only’ be taxed at …

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CYA…that is, Your Assets!

To “cover your assets” properly, you need to be proactive. And to be proactive means that you need to employ the resources, services, and appropriate vehicles to preserve the intentions you have for it/them.  Recently, an estate planning attorney brought to my attention a Forbes magazine article that featured the “7-major errors in estate planning.” …

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