Archive | Estate Planning

RSS feed for this section

We Don’t Need No Stinking Bypass Trusts Anymore. Do We? (Part Two)

04 Apr

To preserve your estate tax lifetime exclusion, your good attorney put in your will (or your living revocable trust) a bypass trust.  Might have called it credit shelter trust, might have called it the family trust, regardless, if drafted right, it followed the internal revenue code and could receive your lifetime exclusion upon your death.  […]

Our New Taxes

09 Feb

So we all heard that there was no estate tax in 2010, but did you know that there were no step-up in basis rules?  You see, in the years prior to 2010, when someone died and their will gave you their house, you usually got what is often called a step-up in basis.  Your basis […]

The Tax Relief…..Act of 2010

26 Jan

A blog is no place to give legal or tax advice, nor is any other medium.  When you ask your CPA or lawyer to advise you on taxes and they agree, then you’re getting tax advice.  This warning applies to everything on this website and its noted elsewhere here, but it’s worth repeating. So what […]

The Estate Tax is the Sticking Point

09 Dec

The estate tax is the sticking point.  So say the pundits this Wednesday morning, December the 8th.  The proposal accepted by President Obama, which keeps personal tax rates at their current level, sets the death (estate) tax lifetime exclusion at $5 million.  Estates passing more than that in asset value would have to pay 35% […]

Planes, Trains and Automobiles

04 Jul

Worried about getting on that plane because you don’t have a plan?  What will happen to the kids?  To the retirement plans?  The home?  You’re not alone if you have these concerns when you’re traveling on vacation.  We all worry about our mortality and capacity and how the inevitable will affect those we love. Did […]

Who gets what?

08 Jun

Think of everything you own:  life insurance policies, annuities, IRAs, 401ks, retirement plans, pensions, brokerage accounts, all the bank accounts and money markets and CDs, your home, other real estate, business interest, autos and finally, all the stuff in and around your home and on your property, furniture, computers, TVs, firearms, tools, paintings, pianos . […]

Estate Planning In the Face of Death

21 Jul

It was a cold, wet day when Yvonne and I presented at the Ecumenical Center, a great place smack in the middle of the South Texas Medical Center that opens its doors to many groups:  patients, caretakers, family members and organizations.  The local ALS Association had invited us to present basic estate planning to its […]