December 2011 Posts

  • Are You Required to Support Your Parents?

    Much to my surprise, I recently became aware of the following North Carolina law: § 14 326.1. Parents; failure to support. If any person being of full age, and having sufficient income after reasonably providing for his or her own immediate family shall, without reasonable cause, neglect to maintain and support his or her parent or parents, ...
  • How to Draft IRA Trusts – Teleconference

    Attorneys interested in learning more about IRA Trusts may wish to sign up for my 90 minute teleconference, How to Draft IRA Trusts, to be held on January 27, 2011 at 2:00 p.m. Eastern. The program may also be of interest to CPAs, financial planners and trust officers....
  • Tax Provisions Expiring December 31, 2011

    There a few federal income tax deductions and other provisions that expire this year: Tax-free distributions from IRAs for charitable purposes - Taxpayers who were at least age 70½ could make tax-free charitable distributions from an IRA up to $100,000....
  • IRS Requests Comments on Trust Decanting

    The IRS is requesting comments on the tax implications of trust "decanting," which refers to transfers by a trustee of all or a portion of the principal of an irrevocable trust to another irrevocable trust. ...
  • Duke’s OLLI Program to Offer Retirement Course in 2012

    Local Financial Planner Janet Ramsey, MBA, CFP will be offering a course entitled To the Health of Your Wealth as part of Duke University’s OLLI program. ...
  • Tax Information for U.S. Citizens Living Abroad

    U.S. citizens must report and pay taxes on their world-wide income, even if living in another country. U.S. taxpayers are also required to disclose foreign bank and financial accounts (FBARs). It’s important to know and follow the rules in order to avoid civil and criminal penalties....
  • Estate Planning and Probate Seminar for Paralegals

    North Carolina legal assistants working with estate lawyers may be interested in a day-long seminar, Estate Planning and Probate Practice for Paralegals, to be held in Chapel Hill on January 25, 2012. I will be presenting the portion on Assisting with Guardianships....