Irrevocable life insurance trusts (ILITs) are designed to keep life insurance from being subject to estate tax in the insured’s estate. However, the trust must be precisely drafted and [...]
READ MORE
For many people, an Individual Retirement Account (IRA) can be your most valuable and important retirement asset. However, planning for the transfer of an IRA at one’s death often does not get [...]
Irrevocable life insurance trusts (ILITs) are designed to keep life insurance from being subject to estate tax in the insured’s estate. However, the trust must be precisely drafted and [...]
By its nature, an irrevocable trust cannot generally be changed. And the big fear of every irrevocable trust is inflexibility. Of the many “future looking” powers we can include in a trust, [...]
By way of background, a Roth IRA is a retirement plan where the funds contributed to the plan do not qualify for an income tax deduction, but are also not taxed upon withdrawal. On the other [...]
Acting boldly when others are meek can result in very effective estate tax planning. It seems counter-intuitive, but the recent halving of oil prices and a similar bloodletting in natural gas [...]
The Internal Revenue Service (“IRS”) has warned of a telephone scam targeting taxpayers. Victims, contacted primarily by phone, are often told that they owe money and must immediately [...]
Starting January 1, 2015, new rules apply to Powers of Attorney executed in Pennsylvania. The first major change is the requirement of two independent witnesses. The witnesses must be over 18 and [...]
The Tax Extender Bill has passed through Congress and is expected to be signed by the President. One of the provisions allows individuals who are 70 1/2 or older to make a Charitable IRA [...]
The Achieving a Better Life Experience (ABLE) Act has passed both the House and the Senate with bi-partisan support and is on its way to the President to become law. The Act will allow families [...]
