As this article from the Wall Street Journal details, the IRS recently lost another case, this time in the Ninth Circuit, dealing with gift tax issues. Where family members are trying to make signficant lifetime transfers to loved ones, there is frequently some uncertainty over how to value the assets, especially business or real estate [...]
Joseph T. Hahn
All posts in category Estate Planning
IRS Loses Gift Tax Battle
Posted by Joseph Hahn on September 20, 2011
http://hahnestateplanning.com/2011/09/20/irs-loses-gift-tax-battle/
Spouse Died In 2011? File An Estate Tax Return
As this article from Forbes.com illustrates, if your spouse died in 2011, you will probably want to at least consider filing an estate tax return with the IRS to preserve your deceased spouse's portable estate tax exemption — even if the estate was well below the exemption level. Due to the new portability rules, if [...]
Posted by Joseph Hahn on August 22, 2011
http://hahnestateplanning.com/2011/08/22/spouse-died-in-2011-file-an-estate-tax-return/
IRS To Gay Newlyweds: You’re Not Married As Far As We’re Concerned
As this BusinessWeek piece illustrates, many of the recently-married same-sex couples in New York and other states permitting same-sex unions are facing a rude awakening. While they might be married in the eyes of their home state, the IRS isn't having it. Those couples must continue to file individual "single" returns and cannot file as [...]
Posted by Joseph Hahn on August 5, 2011
http://hahnestateplanning.com/2011/08/05/irs-to-gay-newlyweds-youre-not-married-as-far-as-were-concerned/
Overlooked Estate Planning Issues
This article by Bob Carlson at Investing Daily details some of the issues that are frequently overlooked during the estate planning process. Some of the questions: Is there enough cash? Who pays the taxes? Have beneficiary designations been addressed? Are there creditor problems? Who will serve as trustee/executor? Has the trust been funded?
Posted by Joseph Hahn on April 21, 2011
http://hahnestateplanning.com/2011/04/21/overlooked-estate-planning-issues/
Baby Boomers Not Concerned About Leaving Money To Children
This article in the Los Angeles Times discusses the recent findings of a recent study by US Trust on the attitudes and values of wealthy baby boomers relating to their wealth. US Trust surveyed almost 500 people with investible assets in excess of $3 million. Only 49% of those surveyed feel it is important to [...]
Posted by Joseph Hahn on April 20, 2011
http://hahnestateplanning.com/2011/04/20/baby-boomers-not-concerned-about-leaving-money-to-children/
IRS Extends Time to File Form 8939 For Deaths in 2010
As this Bloomberg article explains, the IRS recently announced that it was extending the time for heirs of 2010 decedents to file Form 8939. That form will NOT be due on April 18, 2011, but rather, will be due at some point in the future after the IRS finalizes the form and issues further guidance. [...]
Posted by Joseph Hahn on April 5, 2011
http://hahnestateplanning.com/2011/04/05/irs-extends-time-to-file-form-8939-for-deaths-in-2010-2/
IRS Extends Time to File Form 8939 For Deaths in 2010
As this Bloomberg article explains, the IRS recently announced that it was extending the time for heirs of 2010 decedents to file Form 8939. That form will NOT be due on April 18, 2011, but rather, will be due at some point in the future after the IRS finalizes the form and issues further guidance. [...]
Posted by Joseph Hahn on April 5, 2011
http://hahnestateplanning.com/2011/04/05/irs-extends-time-to-file-form-8939-for-deaths-in-2010/
IRS Extends Time to File Form 8939 For Deaths in 2010
As this Bloomberg article explains, the IRS recently announced that it was extending the time for heirs of 2010 decedents to file Form 8939. That form will NOT be due on April 18, 2011, but rather, will be due at some point in the future after the IRS finalizes the form and issues further guidance. [...]
Posted by Joseph Hahn on April 5, 2011
http://hahnestateplanning.com/2011/04/05/irs-extends-time-to-file-form-8939-for-deaths-in-2010/
“Second To Die” Life Insurance: What Is It?
As explained in this posting at Seacoastonline.com, "second to die" or survivorship life insurance can solve many financial problems. What is it? It is a life insurance contract that covers two lives, with the death benefit being paid only after both insureds have died. By having two lives under one policy, the premiums are in [...]
Posted by Joseph Hahn on April 4, 2011
http://hahnestateplanning.com/2011/04/04/second-to-die-life-insurance-what-is-it/
“Second To Die” Life Insurance: What Is It?
As explained in this posting at Seacoastonline.com, "second to die" or survivorship life insurance can solve many financial problems. What is it? It is a life insurance contract that covers two lives, with the death benefit being paid only after both insureds have died. By having two lives under one policy, the premiums are in [...]
Posted by Joseph Hahn on April 4, 2011
http://hahnestateplanning.com/2011/04/04/second-to-die-life-insurance-what-is-it/
