January 2010 Posts

  • Income Taxation of Estates – a Brief Overview

    In North Carolina it is not uncommon for persons to handle administration of a decedent’s estate without hiring a lawyer or an accountant. ...
  • Haiti Donations Qualify for 2009 Tax Deduction

    IR 2010-012: WASHINGTON — People who give to charities providing earthquake relief in Haiti can claim these donations on the tax return they are completing this season, according to the Internal Revenue Service....
  • State of the North Carolina Estate Tax

    For years, there has only been North Carolina estate tax due if federal estate tax was due. Now, however, that the federal estate tax is gone (for now, anyway), what’s the status of the NC estate tax?...
  • GRATs and FLPs okay this year?

    I’m at the University of Miami School of Law’s Heckerling Institute on Estate Planning this week. ...
  • Tax Free Planning Opportunity for Long Term Care Expenses

    The aging demographics of the United States coupled with the Pension and Recovery Act of 2006 (the "PPA”) and Deficit Reduction Act of 2007 (“DRA”) have provided an excellent planning opportunity to create tax efficient vehicles to solve a clients’ long-term care planning needs....
  • Retroactive Estate Tax Not Certain

    The Dow Jones Newswire quotes Rep. Charles Rangel, Chair of the House Ways and Means Committee, as saying that he does not favor retroactive estate tax legislation (to January 1, 2010). ...
  • Run, Don’t Walk to Your Estate Attorney!

    From The New York Times to my bully pulpit: This article helps explain why revising old estate plans is more important than ever, given this bizarre (tax-wise) year of 2010. ...
  • Want to be an organ donor?

    Carolina Donor Service will answer all your questions about organ donation in North Carolina. Also, don’t forget that in a Health Care Power of Attorney you can give your agent the power to donate your organs....
  • The Time for FLPs or FLLCs is Now!

    This is from Steve Akers’ recent presentation, Estate Planning in Light of One-Year ‘Repeal’ of Estate and GST Tax in 2010:...
  • Estate Planning Alert

    I just put this Estate Planning Alert on my firm’s website homepage, but thought it would also be appropriate for this blog:...
  • NC Incompetency and Guardianship Proceedings

    This is a basic outline of initial procedures and considerations in an incompetency and guardianship proceeding in North Carolina. ...
  • Does Your Will Waive Bond for the Executor?

    The following is a guest post by Chris Birk of SuretyBonds.com, which also publishes the Surety Bond Insider:...
  • Does Your Will Waive Bond for the Executor?

    The following is a guest post by Chris Birk of SuretyBonds.com, which also publishes the Surety Bond Insider:...
  • Planning After “Repeal” of the Federal Estate Tax

    From its inception, the 2001 tax act was scheduled to repeal the federal estate tax and generation skipping transfer tax (GSTT) for one year beginning January 1, 2010. ...
  • The Estate Tax is Gone (for Now) – Estate Plan Updates are Imperative

    It’s 2010! As of January 1st, the federal estate tax is no more and it may mean that you should revise your estate plan and related documents. ...