Many senior citizens got an unpleasant surprise this February. Pensioners and seniors who rely on federal benefits to make ends meet were hit with the harsh new reality of the federal financial landscape when they discovered that their social security checks had been decreased. Although some were warned about the…
Extensive trust-planning and maneuvering tax law in order to protect a surviving spouse has long been a central part of the job of any qualified New York City Estate Planning Lawyer. Almost as soon as the United States Government christened the estate tax, wealthy families began finding ways around paying.…
The Estate Planning community is in a buzz over a new tax law approved by president Obama in late December of 2010. The Tax Relief, Unemployment Reauthorization, and Job Creation Act of 2010, or TRA 2010 for short, is a “game-changer,” one New York Estate Planning Lawyer is saying. In…
Every good New York Estate Planning Lawyer knows that estate panning is about preparing for the unthinkable. They frequently work with people for whom the prognosis is poor, stepping in to facilitate estate planning, long-term care planning, or to establish and administrate the estate after the death of a loved…
Think that Canadians are exempt from paying estate tax? One New York Estate Planning Lawyer says you could be wrong. Even Canadians who have never so much has set foot on US soil are on the hook for estate tax in many situations, if they don’t take the right precautions…
There is no inheritance tax for 2010, but that will not benefit most of us who plan to live to 2011 and beyond. The inheritance tax may or may not return in some form in 2011 – Congress hasn’t decided yet – but luckily, the gift rules remain pretty much…
With the tax season upon Americans, it is time to figure out your gross income and taxable income and home you do not have to pay the IRS any taxes. Let your iPhone help you as you work through your w-2s. There are several iPhone apps that can make the…
August 13, 1970, Julia Eckhart died leaving two children, Charlotte Eckart and Frank Darmody. In her will that was dated August 4, 1966, she left each of them the sum of $50 and the rest to Watch Tower Bible and Tract Society of Pennsylvania. The will was admitted to probate…
Joseph Alexander died November 23, 1975, leaving his adopted son, Ronald Alexander. After the probate of his will, his son filed a petition contesting the amount given to charities as in excess percentage amount allowed by law. Executors were placed to check if the claim was valid, and the courts…
The Tax Act of 2010 put in to play a lot of changes for people, especially the wealthy, said a New York Estate Planning Lawyer. Those that had any significant wealth in their estate planning process wanted to make some donations before 2011. The initial tax on estate planning gifts…