Tips From Tom
- Deficit Reduction Debate Might Impact Specific Estate Planning Techniques
- Estate Tax Exemption Actually $5.25M in 2013 When Adjusted for Inflation
- 2013 Annual Gift Tax Exemption $14,000
- Fiscal Cliff Legislation Keeps $5M Federal Estate Tax Exemption
- Use a Qualified Personal Residence Trust to Avoid Federal Estate Tax
- Time to Convert Your Traditional IRA to a Roth IRA?
- Federal Estate Tax and the “Fiscal Cliff”
- Back to School
- New Law Affects Durable Powers of Attorney in Michgan
- When Does Your Durable Power of Attorney Become Effective?
Monthly Archives: May 2012
On May 23 the Governor signed Public Act 141 of 2012 that affects the drafting and execution of Durable Powers of Attorney in Michigan, and the powers of the attorney-in-fact designated therein. The Act further requires the agent-in-fact to execute … Continue reading
A Durable Power of Attorney can be drafted to become effective upon signing, or only if you become incapacitated. If drafted to become effective upon signing, your named agent can immediately take charge of your assets. If, on the other-hand, … Continue reading
As most of you know, there is an annual amount that you can give to any one person without incurring a gift tax. In 2012 the amount of this gift tax exemption is $13,000. Normally, if you exceed the gift … Continue reading
I will often have a client call and tell me that he/she planning to get remarried and will see me afterwards to revise his/her estate plan. My advice to them…see me before you get remarried because your planning options might be very … Continue reading