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On Behalf of The Manna Helmy Law Group | Jan 6, 2012 | Inheritance And Estate Tax
At the start of 2012, all the same incentives to engage in estate planning that were present in 2011 are still present. What may be different, though, is a greater sense of urgency, as things are set to change at the end of the year, unless Congress takes action. Both...
On Behalf of The Manna Helmy Law Group | Dec 8, 2011 | Estate Planning, Inheritance And Estate Tax
Estate planning attorneys and their clients are keeping busy filing 2011 estate tax returns, despite the fact that the smallest number of estates in 75 years will actually owe any estate tax in 2011. The reason? Estate tax portability.Portability, which came with the...
On Behalf of The Manna Helmy Law Group | Dec 7, 2011 | Inheritance And Estate Tax
Estate planning attorneys and their clients are keeping busy filing 2011 estate tax returns, despite the fact that the smallest number of estates in 75 years will actually owe any estate tax in 2011. The reason? Estate tax portability.Portability, which came with the...
On Behalf of The Manna Helmy Law Group | Nov 23, 2011 | Inheritance And Estate Tax
As we have frequently mentioned on this blog, the current state of the federal estate tax and gift tax exemption is precarious. Through 2012, the lifetime combined exemption amount (for gift tax and estate tax) is set at $5 million, which is affording many people the...
On Behalf of The Manna Helmy Law Group | Nov 18, 2011 | Inheritance And Estate Tax
According to a new study conducted by the chief economist of New Jersey's Department of Treasury, wealthy residents are being driven out of the state because of high taxes. This, in turn, is slowing the rate of recovery in the state. According to Bloomberg Economic...
On Behalf of The Manna Helmy Law Group | Nov 16, 2011 | Inheritance And Estate Tax
A recent article in Forbes pointed out that changes to the state's Medicaid program may have a significant effect on existing estate plans and estate planning going forward. The new Medicaid regulation reportedly went into effect in early September, and will allow the...
On Behalf of The Manna Helmy Law Group | Nov 11, 2011 | Estate Planning, Inheritance And Estate Tax, Trusts
At present, several factors are combining to make for wonderful conditions for wealth preservation in estate planning. Those factors are favorable tax laws, a struggling economy, and low interest rates. Taking advantage of the current estate planning environmentAt...
On Behalf of The Manna Helmy Law Group | Nov 9, 2011 | Estate Planning, Inheritance And Estate Tax
When doing estate planning, it is important to remember that even those who are not liable for federal estate taxes, you still may be liable for state taxes at death. State taxes at death may be either estate taxes, inheritance taxes or both. Some states just impose...
On Behalf of The Manna Helmy Law Group | Oct 12, 2011 | Estate Planning, Inheritance And Estate Tax
In our last post, we began speaking about the importance of ensuring your estate has enough funds to pay of taxes and other expenses related to winding down the estate. We noted that the first step in the process should be to determine your tax liability and other...
On Behalf of The Manna Helmy Law Group | Oct 10, 2011 | Estate Planning, Inheritance And Estate Tax
The first thing you'll need to do is find out how much property is included in your taxable estate. Your taxable estate includes any property listed in your own name, including retirement accounts, bank accounts, homes, vehicles, personal property, business interests...
On Behalf of The Manna Helmy Law Group | Jan 6, 2012 | Inheritance And Estate Tax
At the start of 2012, all the same incentives to engage in estate planning that were present in 2011 are still present. What may be different, though, is a greater sense of urgency, as things are set to change at the end of the year, unless Congress takes action. Both...
On Behalf of The Manna Helmy Law Group | Dec 8, 2011 | Estate Planning, Inheritance And Estate Tax
Estate planning attorneys and their clients are keeping busy filing 2011 estate tax returns, despite the fact that the smallest number of estates in 75 years will actually owe any estate tax in 2011. The reason? Estate tax portability.Portability, which came with the...
On Behalf of The Manna Helmy Law Group | Dec 7, 2011 | Inheritance And Estate Tax
Estate planning attorneys and their clients are keeping busy filing 2011 estate tax returns, despite the fact that the smallest number of estates in 75 years will actually owe any estate tax in 2011. The reason? Estate tax portability.Portability, which came with the...
On Behalf of The Manna Helmy Law Group | Nov 23, 2011 | Inheritance And Estate Tax
As we have frequently mentioned on this blog, the current state of the federal estate tax and gift tax exemption is precarious. Through 2012, the lifetime combined exemption amount (for gift tax and estate tax) is set at $5 million, which is affording many people the...
On Behalf of The Manna Helmy Law Group | Nov 18, 2011 | Inheritance And Estate Tax
According to a new study conducted by the chief economist of New Jersey's Department of Treasury, wealthy residents are being driven out of the state because of high taxes. This, in turn, is slowing the rate of recovery in the state. According to Bloomberg Economic...
On Behalf of The Manna Helmy Law Group | Nov 16, 2011 | Inheritance And Estate Tax
A recent article in Forbes pointed out that changes to the state's Medicaid program may have a significant effect on existing estate plans and estate planning going forward. The new Medicaid regulation reportedly went into effect in early September, and will allow the...
On Behalf of The Manna Helmy Law Group | Nov 11, 2011 | Estate Planning, Inheritance And Estate Tax, Trusts
At present, several factors are combining to make for wonderful conditions for wealth preservation in estate planning. Those factors are favorable tax laws, a struggling economy, and low interest rates. Taking advantage of the current estate planning environmentAt...
On Behalf of The Manna Helmy Law Group | Nov 9, 2011 | Estate Planning, Inheritance And Estate Tax
When doing estate planning, it is important to remember that even those who are not liable for federal estate taxes, you still may be liable for state taxes at death. State taxes at death may be either estate taxes, inheritance taxes or both. Some states just impose...
On Behalf of The Manna Helmy Law Group | Oct 12, 2011 | Estate Planning, Inheritance And Estate Tax
In our last post, we began speaking about the importance of ensuring your estate has enough funds to pay of taxes and other expenses related to winding down the estate. We noted that the first step in the process should be to determine your tax liability and other...
On Behalf of The Manna Helmy Law Group | Oct 10, 2011 | Estate Planning, Inheritance And Estate Tax
The first thing you'll need to do is find out how much property is included in your taxable estate. Your taxable estate includes any property listed in your own name, including retirement accounts, bank accounts, homes, vehicles, personal property, business interests...
