Why the need to update Estate Plans

Your Estate Plan needs to be regularly reviewed and updated.  Three major parts of your Estate Plan are constantly moving. The first is the relationships with the people who have roles as Trustee, Personal Representative, Health Care Agent and Financial Power of Attorney and other roles.  Those people in those roles may need to be... [Read More]

Your Taxes, Your Vote

The outcome of the national and state elections will determine what is likely to happen with the Tax Code in the immediate future.  It is fascinating that expert advisors are already setting up on-line and telephone continuing education for immediately after the election on the anticipated new tax codes.  They already have a pretty good... [Read More]

Pending Elections Will Dramatically Impact Both State and Federal Taxes

The Bush Tax Cuts are set to expire on December 31, 2012.  There is a bill in the House of Representatives by the Republicans to extend that for one year.  If it is enacted before December 31, it would extend the tax cuts for one year.  If it is not, the tax cuts would disappear... [Read More]

Regardless of the Election

Regardless of the outcome the federal and state elections, Probate Court Costs in North Carolina can be up to $6,000.00 per person or $12,000.00 per couple.  Administrative costs, much of that including attorney’s fees, will still average 5% to 7% of your assets that move through Probate Court.  The average time to move through Probate... [Read More]

What About the Election?

The outcome of the Presidential Election is unlikely to resolve the Tax Code in 2013.  As most people know, the Bush Tax Cuts of 2001 are set to expire on January 1, 2013.  It has been long anticipated that there would be a one year extension of those tax cuts.  The Republicans in the House... [Read More]

Don’t Wait to Do Estate Planning

Some people are waiting for the Estate Code to settle.  The Bush Tax Cuts of May 2001 expire January 1, 2013.  At that time, the Estate Tax exemption goes back down to roughly $1 million.  Therefore, any assets you own valued at more than $1 million could be subject to federal and state Estate Tax... [Read More]

Taxes Increased Under Obamacare for Investors

Forgotten in the most of the political back and forth over Obamacare, President Obama’s health care law that was passed during his first two years in office while his party held both the White House and both Houses of Congress, was that there is a tax inside that bill.  Most of the news has been... [Read More]

Rumor Has It…One Year Extension on Bush Tax Cuts

The most current reliable rumor on backside negotiations between the Republicans and Democrats that effect Estate Taxes and other tax issues is that there will be a one year extension (or “patch”) on the Bush Tax Cuts.  As you know, the Bush Tax Cuts that went into effect in May 2001 are set to expire... [Read More]

Analysts Project Estate Tax Exemption Going Back Down to $1 Million and Estate Tax Rates Back Up to 55%

Analysts recently advised that given the upcoming elections, they don’t anticipate Tax Law changes until 2013 or 2014 (click here to read the article).  Therefore, they anticipate the Bush Tax cuts expiring on December 31, 2012, leading us back to Estate Taxes being applied on Estates with more than $1 million and Estate Tax rates... [Read More]