Frederick, MD 
301-663-9230Reasons to have an estate plan.
Estate planning is for everyone, regardless of age or net worth.
Estate planning is for everyone, regardless of age or net worth.
President Obama on Tuesday strongly defended his tax cut deal with Congressional Republicans against intense criticism from his own party, insisting it was “a good deal for the American people” states the New York Times “I’ve said before that I felt that the middle-class tax cuts were being held hostage to the high-end tax cuts,” Mr. Obama said. “I think it’s tempting not to negotiate with hostage-takers, unless the hostage gets harmed. Then people will question the wisdom of that strategy. In this case, the hostage was the American people, and I was not willing to see them get harmed.”…
When you start a business you have a lot of things to think about and remember, from pricesand products to advertising and social media. You might find that, while juggling all of these day-to-daybusiness concerns, it’s easy to forget about planning for your business taxes. The Chicago Tribune ran an excellent reminder of this, and several tips to keep in mind: You may have to file a tax return even before you take in any revenue. The amount of start-up costs that can be written off in 2010 is double what it was in 2009,to as much as $10,000 for…
As you may know by now, the Federal Estate Tax lapsed in 2010 and Congress has not yetdecided what to do about it. I ran across another good end-of-year planning article, written by Robert Wood for Forbes. I think his tips are worth repeating here. 1. Remember that, even though there is no estate tax this year, executors for estates valued atmore than $1.3 million still must file an “informational” return with the IRS.2. While some (morbid) people are referring to this as “the year to die,” it is perhaps moreimportantly “the year to give.” The Gift Tax is still…
Rita Files is an elder-care professional, an accredited VA claim agent, and the chief operating officer of Aging with Grace. She can be reached at rita@agingwithgrace.net.
Therefore, it is important to know what steps to take before and when additional care is necessary, to avoid a crisis.
Senior Life Care Planning helps clients and their loved ones navigate the maze of legal, care and financial issues associated with dementia, Alzheimer’s Disease, or other disabling health issues.
We see a number of cases, where a financial planner (scammer) sells an annuity to an 80 year old plus veteran with a 20 – year surrender penalty. Consequently, if the veteran has to be placed in a nursing home, the veteran will not qualify for medicaid, causing huge financial repercussions.
From the following blog http://mhs.typepad.com/threepointfive-45/dying-free-of-the-federal-estate-tax-billionaire-deaths-in-2010.html Billionaire Fortune Date of Death Estimated Net Worth (from Forbes billionaires, 3/10/10) Mary Janet Cargill inherited, Cargill Inc. February 5, 2010 $1.7 bil Dan L. Duncan self made, energy March 28, 2010 $9.0 bil Walter Shorenstein self made, real estate June 24, 2010 $1.1 bil (with family) George Steinbrenner self made, Yankees July 13, 2010 $1.1 bil John Kluge self made, Metromedia September 7, 2010 $6.5 bil
However, there is a limit on how large a premium can be deducted, depending on the age of the taxpayer at the end of the year.
