October 2009 Posts

  • Estate Tax: Back to the Future

    This article on Trusts & Estates journal’s website discusses a very real possibility – a return in 2011 to the estate tax laws of 2001. Briefly, that would mean a $1 million exemption and a 55% rate....
  • The Dirty Dozen – 12 Estate Planning Mistakes

    As Halloween approaches, here’s another reason to be scared – failure to do proper estate planning. Make sure you have not committed any of these common mistakes that I see all too often: ...
  • IRS Publishes Retirement Plan Guide for Small Businesses

    To help small business owners steer their way through all of the retirement plan options available, the IRS has come up with the IRS Retirement Plans Navigator. The site contains a comparison of the various plans and other helpful information and links....
  • Reverse Mortgages can be Hazardous to your Equity

    The National Consumer Law Center has come out with a report detailing the risks of reverse mortgages for senior homeowners. Because of high fees, interest rates and other issues, I generally do not recommend reverse mortgages, although for some they may be the only feasible way to access cash....
  • Another Estate Tax Bill Introduced

    On October 15, 2009, Rep. Schrader (D. Oregon) introduced "The Small Business and Family Farm Estate Tax Relief Act of 2009" ( H.R. 3841), which would "repeal carryover basis for decedents dying in 2009, and "increase the estate tax exemption to $5,000,000" and "reduce the maximum estate and gift tax rate to 45 percent" for decedents dying after December 31, 2009....
  • Uncertainty in Future of Estate Tax No Reason to Delay Planning

    Check out this aptly titled article on webcpa.com – The dangers of postponing estate planning until Congress clarifies the law. Don’t let the expenditure of a few hours or a couple of thousand dollars keep you from putting a plan into place that could avoid unintended financial problems for your family and/or save them hundreds of thousands of dollars in taxes. ...
  • Uncertainty in Future of Estate Tax No Reason to Delay Planning

    Check out this aptly titled article on webcpa.com – The dangers of postponing estate planning until Congress clarifies the law....
  • Regular Updates to Will Important

    This article from WSJ online on the effect on changing estate tax exemptions on what’s left for the surviving spouse describes just one reason why....
  • Life Insurance Blog

    http://www.insuranceblogbychris.com/ ...
  • Responsibilities of Guardians in North Carolina

    I’m leaving on vacation tomorrow, so it’s a hectic day in the office, but I wanted to share the link to the pamphlet Responsibilities of Guardians in North Carolina, which is published by the NC Administrative Office of the Courts....
  • When NOT to use a Living Trust

    Practically every day, I discuss with clients the pros and cons of revocable living trusts. In my opinion, the positives generally far outweigh the negatives, but living trusts don’t make sense for everyone. ...
  • I Inherited Real Estate – Where’s My Deed?

    I often have clients ask about "getting a deed" when they inherit real property. My response is usually "you don’t need one." In North Carolina, in most cases, no deed is necessary to transfer and evidence ownership of inherited real estate. ...
  • Estate Tax Discussions Very Popular

    Here’s a link to an article from Evan Cooper at Investment News about a recent webinar on the federal estate tax that the magazine hosted – geared for financial advisors but worthy reading for all those interested in what will happen with the estate tax. ...