New York Estate Lawyers have noticed something: Both financial planners and collectors do not tend to count the value of collections when it comes to looking at financial resources, including estate planning. This often results in a parent instructing children to come and take the collection once the parent has…
The federal estate tax is still scheduled to return on January 1, 2011, which will affect a great many families, New York Estate Lawyers report. No one knows what Congress is going to do about it, including, apparently, Congress, which means financial planning is very tricky. Retirees have to find…
Senator Max Baucus, chairman of the Senate Finance Committee, is soon to introduce a bill that would create permanent tax cuts for the middle-class and reduce estate taxes, New York Estate Lawyers has learned. The tax cuts for families that earn more than $250,000 a year will be allowed to…
The Senate has yet to come to a real decision regarding the estate tax. Currently, there is no estate tax, but it is likely to return in 2011, according to New York Estate Lawyers. That may not be good news for heirs who decided to sell their inherited gains, however,…
Texas is one of the top tax havens for retirees, according to New York Estate Lawyers. New York Estate Lawyers have discovered since Texas has no state personal income tax and a low 6.25 percent sales tax (which local taxes can raise up to 8.25 percent), it is a popular…
It looks like the federal estate tax will be restored on January 1, 2011, and a lot of families are going to feel it, says a New York Estate Lawyer. No one knows for sure, however, which is creating plenty of uncertainty when it comes to financial planning, especially for…
That old saying about death and taxes being the only sure things may not be as sure as they it used to be, thanks to impending changes in U.S. tax law, a New York Estate Lawyer reports. It is still unknown whether Congress will do anything to extend or change…
The last twenty years has seen a great increase in bankruptcy, not only in number, but in the age of those affected by bankruptcy, a New York Estate Lawyer reports. In 2007, about 7% of those who filed for bankruptcy were over the age of 64. The number was only…
An American Business Family Foundation study shows that more jobs could be lost – as many as 1.5 million – if the United States Congress allows the federal estate tax to return. The Economic Growth and Tax Relief Reconciliation Act caused the estate tax to expire at the end of…
Life insurance has generally had fairly good treatment from tax laws over years, thanks to a reputation for protecting widows and orphans, a New York Estate Lawyer reports. It was the contention of the life insurance companies that their policies kept people from becoming poor when the family breadwinner died…