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Posts tagged "taxes"

Congress extends 2010 estate-gift tax exemption amount indefinitely, P.2

In our previous post, we began looking at the new fiscal cliff deal Congress came up with in the 11th hour, and the way it will affect estate planning in the coming year. As we noted, The same exemption amount will apply permanently, with adjustments for inflation, meaning that wealthy estates have less to pay in estate taxes.

Congress extends 2010 estate-gift tax exemption amount indefinitely, P.1

We've been talking about the estate and gift tax exemption debacle on this blog for a number of months now, informing our readers about the changes that could come in the New Year, and trying to stay on top of any developments. Now that Congress has come up with a fiscal cliff deal, we are able to relate to our readers how the changes will affect estate planning in the coming year.

Filing inheritance tax return can help minimize capital gains taxes

In New Jersey law, there are not only federal estate tax, gift tax and income taxes to consider, but also state estate taxes and inheritance transfer taxes. Inheritance tax is not due for certain types of beneficiary-specifically, father, mother, grandparents, descendants, spouses, civil union partners, or domestic partners-though it is due for other types of beneficiaries in varying amounts. Those who owe inheritance tax are required to file a return with eight months of the decedent's date of death.

Techniques high-powered executives use to avoid taxes

A recent Forbes article explored the various tactics used by wealthy men and women, particularly those with high-growth investments, to minimize tax liability. As our New Jersey readers know, avoiding estate and gift tax liability is an important aspect of estate planning, particularly since New Jersey is among the states that tax wealth transfers the most.

Conditions are favorable for estate planning

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 environment

10 important matters to consider in estate planning, P.3

In our previous two articles, we have been discussing important areas to be aware of when thinking about estate planning. So far, we have mentioned the potential importance of maintaining harmony in the family, avoiding probate, taking advantage of asset protection opportunities, tax planning, keeping attorney's fees manageable and making sure to select successor fiduciaries and contingent beneficiaries in your estate plan. Here we offer some final suggestions.

10 important matters to consider in estate planning, P.1

Proactivity, as can be imagined-as opposed to acting out of necessity-is an essential aspect of effective estate planning. But it isn't always easy to decide which aspects of estate planning deserve the most or immediate attention.

Caring for Your Elderly Relatives and Medicaid Planning, Part 2

In our last post, we began discussing some of the issues surrounding paying family members to provide caregiving services. Here, we want to continue that discussion by talking about potential tax implications and how these arrangements may affect Medicaid planning.

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