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Estate planning still important

Site Administrator — Thu, 23 May 2013 17:50:11 +0000

Congress has dealt with the estate tax issue, determining that the federal tax will now kick in at $5.25 million, so only the wealthy have to think much about estate planning anymore, right? Wrong. According to a recent New York Times article, even the “non-wealthy” still need to pay close attention to estate planning. For [...]

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Dreading the inheritance conversation?

Site Administrator — Thu, 16 May 2013 19:16:17 +0000

It is harder than talking to your children about sex. What? Talking about their inheritances. Telling heirs how much they are going to inherit is fraught with emotional trip wires for parents who may feel guilty about how much money they have or who don’t want to give their children a sense of entitlement or [...]

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Younger generation lagging behind in saving

Site Administrator — Thu, 09 May 2013 18:52:57 +0000

Americans under the age of 40 lag far behind their parents in accruing wealth, according to a new study. The study by the Urban Institute, reported on in the New York Times, found that those under 40 have accrued far less wealth than their parents had at that time in their lives, even as the [...]

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Will The Estate Tax Disappear?

Site Administrator — Thu, 02 May 2013 20:24:57 +0000

Under the deal struck in Congress to avoid the “fiscal cliff,” the estate tax survived, although it was watered down some. In 2001, when President George W. Bush took office, individual estates over $675,000 were taxed, with a top rate of 55 percent. Now, the top tax is 40 percent and only individual estates over [...]

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People Rarely Move To Save On Taxes

Site Administrator — Thu, 25 Apr 2013 15:35:38 +0000

It happens all the time, right? People are always moving to avoid high taxes. Either they are moving out of the country or from one state to another. Well, not really. Recently, French actor Gerard Depardieu said he might move to Russia because of its low 13 percent flat tax on personal income. And golfer [...]

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Warren Buffett Still Paying a Lower Tax Rate Than His Secretary

Site Administrator — Thu, 18 Apr 2013 17:46:28 +0000

The 2012 Presidential election was all about taxes — the Democrats said the rich were not paying their fair share and the nation agreed. During the campaign, Warren Buffett, one of the world’s richest men, complained that he paid a lower rate than his secretary. Now, taxes on the rich have inched upwards as part [...]

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Family wealth can be a blessing, not a curse

Yugandhar Sharma — Thu, 11 Apr 2013 21:44:33 +0000

Some people complain that family wealth is a curse. Kids get too much too soon. They lose motivation. Family members focus on money to the exclusion of all else. And it can lead to low self-esteem, since you inherited the money and didn’t make it yourself. All that can be true. But an article in [...]

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Family Wealth Can Be A Blessing, Not A Curse

Site Administrator — Thu, 11 Apr 2013 14:04:52 +0000

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Man Leaves Estate To Actors He Had Never Met

Site Administrator — Thu, 04 Apr 2013 17:54:32 +0000

A man who died last summer in Illinois left his million dollar estate to two actors he never met. According to an article on ABC’s Good Morning America web site, Ray Fulk, who was 71 when he died, left the two actors a half million each. Fulk lived alone and had no family. But he [...]

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Book Tells You Everything You Want to Know About Estate Planning

Yugandhar Sharma — Mon, 01 Apr 2013 22:36:18 +0000

Forbes blogger Deborah Jacobs has written a book that will tell you everything you need to know about estate planning. It is called “Estate Planning Smarts” and it is described as a “user friendly, action oriented guide” to estate planning. It has been updated to reflect the latest changes to estate tax policy. It is [...]

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