From shirtsleeves to shirtsleeves in three generations, goes the early 20th-century American proverb. Then there’s the 19th-century British version: Clogs to clogs in three generations. And from Italy, date uncertain: From the stable to the stars and back again.
Read More »Estate Planning for Your Works of Art
Art investors are nearly always advised not to invest in art at all, but to collect it. Buy what you like, the conventional wisdom goes, not what you expect to increase in value. But collectors still must contemplate financial matters, especially related to inheritance, advisers say. It’s essential for them to consider what will happen to […]
Read More »Can I Survive Financially if I Live to be 100?
How long will you live? It’s a key question in retirement planning. If you’re healthy and your family tree has branches with staying power, you may figure that you have decades ahead. If your parents died early of natural causes, you may assume a shorter life. Yet research shows that behavior is more crucial than […]
Read More »Keep Your Trust Ahead of State Tax Laws
Keeping on top of federal tax laws concerning trusts is relatively simple. However, when it comes to state tax laws on trusts, staying on top of them can be an entirely different matter, especially since many trusts might be subject to taxation in several states.
Read More »When is an Estate Subject to State Death Taxes?
In the United States, certain states collect a death tax based on the value of the deceased person’s estate and who inherits it.
Read More »Gift Tax Basics
People who want to give a large amount of money to another person often have questions about how much they can give without having to pay taxes on the gift. Fortunately, the gift tax is relatively simple once you know the basics. Many parents find themselves in a position where they want to give […]
Read More »Minnesota to Cut Estate Tax?
The estate tax is not only a hot button issue in national politics, it also plays an important role in the politics of many states. One such state is Minnesota where it appears that the estate tax might be cut earlier than previously expected. Currently Minnesota’s estate tax exemption is $1.4 million and is […]
Read More »The Moon and the Estate Tax
When thinking about the estate tax, the first thing that comes to mind is probably not the moon. However, one pundit, made an interesting connection between the two. Bill Maher is a well-known liberal pundit who is often at the center of controversy over his statements. Consequently, it should come as no surprise that […]
Read More »Reasons to Repeal the Estate Tax
Repealing the estate tax is a controversial subject both inside and outside of Washington D.C. Recently, the U.S. House of Representatives did vote to repeal the tax, but the matter must still meet Senate and Presidential approval. With the U.S. House of Representatives recently voting to repeal the estate tax, the issue now will go […]
Read More »Tom Brady Versus the Gift Tax
It seems like famous athletes are winning something all time. These men and women are often already extremely wealthy, yet they often win prizes for their achievements beyond their salaries. Rest assured there are tax consequences for them.
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