In this Wall Street Journal article, the authors explain how the recent changes to the gift tax regime have created real opportunities for wealthy families and are causing these families to seriously reevaluate their estate plans. The lifetime gift tax exemption has increased dramatically from $1 million to $5 million per person ($10 million per [...]
Joseph T. Hahn
All posts tagged estate planning
Gift Tax Break A Boon For Wealthy Families
Posted by Joseph Hahn on January 31, 2011
http://hahnestateplanning.com/2011/01/31/gift-tax-break-a-boon-for-wealthy-families/
What You Need To Know About Estate Tax
Now that the estate tax laws have been reformed for 2011 and 2012, here's an article in US News that talks about what you need to know. Some highlights: (a) you still need to do estate planning; (b) you need to have your existing documents reviewed by an attorney to make sure they are consistent [...]
Posted by Joseph Hahn on January 27, 2011
http://hahnestateplanning.com/2011/01/27/what-you-need-to-know-about-estate-tax/
Your Basic Estate Plan
Ashlea Ebeling writes an excellent article in Forbes detailing the issues that you should be considering when putting together your first estate plan. Just gotten married or had children? Inherited some property? Been a while since you've updated your old will? You need to be meeting with an attorney to put in place your will, [...]
Posted by Joseph Hahn on January 27, 2011
http://hahnestateplanning.com/2011/01/27/your-basic-estate-plan/
Will Estate Tax Reform Chill Estate Planning?
In this blog post from Hani Sarji at Forbes.com, he points out that the recently negotiated estate tax deal may have a further chilling effect on estate planning. Why? For one reason, with a $5 million personal exemption, many members of the public may decide that estate taxes will never apply to them and therefore, [...]
Posted by Joseph Hahn on December 10, 2010
http://hahnestateplanning.com/2010/12/10/will-estate-tax-reform-chill-estate-planning/
Ways The Emerging Estate Tax Deal May Affect You
This article from Marketwatch.com explores five ways the emerging estate tax deal may affect the general public. First, if the $5 million personal exemption is made "portable" to the surviving spouse, many have wondered whether the common use of "bypass trusts" by married couples will go by the wayside. This article takes the position that [...]
Posted by Joseph Hahn on December 9, 2010
http://hahnestateplanning.com/2010/12/09/ways-the-emerging-estate-tax-deal-may-affect-you/
Business Wants Estate Tax Compromise… Fast
As Dow Jones is reporting, business groups are now in favor of an estate tax compromise short of outright repeal, as long as Congress takes action quickly. With the mid-term elections behind us, the lame duck Congress must take up estate tax reform or January 1, 2010 will bring with it the return of the [...]
Posted by Joseph Hahn on November 9, 2010
http://hahnestateplanning.com/2010/11/09/business-wants-estate-tax-compromise-fast/
Learn From Celebrity Estate Planning Mistakes
This article from Housing Watch discusses several important lessons that can be learned from celebrities and the mistakes they made in estate planning. Dennis Hopper, Sonny Bono, Brittany Murphy, Ray Charles, Heath Ledger and Michael Jackson are some of the celebrities whose tales have lessons to teach. In a nutshell: sit everyone down and talk [...]
Posted by Joseph Hahn on October 19, 2010
http://hahnestateplanning.com/2010/10/19/learn-from-celebrity-estate-planning-mistakes/
No Time Like The Present To Reduce Estate Tax
This article from the Wall Street Journal details an estate tax reduction strategy commonly known as a sale to an intentionally defective grantor trust. The author attempts to make the point that many estate planners are sitting on their hands doing nothing while the estate tax laws are up in the air, telling clients to [...]
Posted by Joseph Hahn on August 31, 2010
http://hahnestateplanning.com/2010/08/31/no-time-like-the-present-to-reduce-estate-tax/
Give Big Gifts In 2010 To Avoid Gift Tax In 2011
As we've highlighted before, this article in the New York Times discusses the fact that there is a reduced gift tax in 2010 (35% as opposed to 55% in 2011 if Congress does not act) and the wealthy should be considering making taxable gifts in 2010 as a way of avoiding estate taxes in the [...]
Posted by Joseph Hahn on August 30, 2010
http://hahnestateplanning.com/2010/08/30/give-big-gifts-in-2010-to-avoid-gift-tax-in-2011/
Anna Nicole Smith’s Case Proves Need For Estate Planning
In this article from CNBC.com, the need for proper estate planning is highlighted by the case of Anna Nicole Smith. Some of the lessons: do some planning; put it in writing; review your documents periodically; appoint a guardian for minor children; plan your funeral in advance; and discuss your plans with your family in advance. [...]
Posted by Joseph Hahn on August 12, 2010
http://hahnestateplanning.com/2010/08/12/anna-nicole-smiths-case-proves-need-for-estate-planning-2/
