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During the holidays, Bob wanted to make a generous $5,000 gift to his favorite charity. After paying for holiday gifts for family and friends, Bob had $10,000 left in his checking account. He had also…
Most people don’t hesitate to visit their doctor annually for a check-up. However, when it comes to updating their estate-planning documents, it’s like pulling teeth. They put off the appointment as long as possible. Does…
When beloved actor and New Jersey native James Gandolfini died unexpectedly in June, fans mourned him and memorialized his many talents. Shortly after the dust settled, though, experts in estate and tax planning piled on…
With the 2013 increase of the Federal Estate and Gift tax exemption to $5.25 million, more decedent’s estates are escaping the federal estate tax. However, your estate may still be subject to state estate taxes…
Since many estates now fall under the 2013 federal exemption amount of $10.5 million, the need to remove assets from your estate by giving them as gifts may not be as critical as it once…
On June 26, 2013, in the case United States v. Windsor, the U.S. Supreme Court declared Section 3 of the Defense of Marriage Act (DOMA) as unconstitutional. This landmark case will impact legally married same-sex couples in…
It’s sometimes difficult to determine exactly to whom you’d like to leave your assets when you die. But with retirement plans, IRA accounts, annuities, and life insurance policies, you also need to make sure you leave…
Most taxpayers are aware of the tax law changes, which include an increase in the top income tax rate and capital gains rate as well as a 3.8% Medicare surtax. While much of the focus…
When it comes to death and taxes, Benjamin Franklin hit the nail on the proverbial head when he said that both were inevitable. Given this truth, many individuals are concerned with their estate being passed…
For years, taxpayers have been told that one of the most tax efficient ways to make charitable donations is through gifting highly appreciated securities. This strategy allows the donor to maintain the charitable deduction but…