Federal Estate Tax Update
On July 14 the Senate voted down a proposal that would have permanently repealed the federal estate tax. Whether Congress will fix the upcoming predicament (Jan 1, 2011) remains to be seen. Are you prepared if they don’t?
Texas Billionaire’s Estate passes tax free
The estate tax laws were enacted in 1916. In 1937, John D. Rockerfeller’s estate paid 70%. In 2010, however, the tax has been repealed – but for 2010 only! Dan L. Duncan died in March 2010 with an estimated wealth of $9 billion, meaning his four children and four grandchildren will collect billions of dollars […]
Should you leave gifts to your children?
I highly recommend this webpage on gifts to children provided to me by Shenandoah University GiftLegacy. http://su.giftlegacy.com/personal_planner.jsp?WebID=GL2010-1868&D=201026
Changes for the Estate Tax Exemption?
While the estate tax exemption for 2010 is unlimited, the law is set to sunset December 31, 2010, reinstating the 2001 exemption rate of $1 million on January 1, 2011. Estate and financial planners have wondered since the current law was enacted in 2001 what would happen to the exemption and whether Congress would permit […]
Changes to Heath Care
While many of the new Reform Act’s provisions take effect in 2013, 2014, or later or will be gradually phased in, some provisions will become effective immediately or shortly. A few are: A temporary national high-risk pool will go into effect within 90 days. New restrictions on insurers regarding lifetime limits, excessive waiting periods (over […]