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December212015
Permanent Place of Abode: Taking Ownership

We have always been told it’s important to take ownership of your work, your actions, and sometimes even the actions of others. However, when it comes to determining whether you […]

December212015
Second-to-die Life Insurance Is a Vehicle to Pay Estate Taxes

Second-to-die life insurance (sometimes called “survivorship insurance” or “dual-life insurance”) can be a useful tool for providing liquidity to pay estate taxes for married couples with large estates.

December212015
7 Last Minute Tax Saving Tips

Year-end is literally days away, but there’s still time to reduce your 2015 tax liability as long as you take action by December 31. Consider these strategies:

December142015
Protecting Your Retirement Savings from Creditors

Estate planning and asset protection go hand-in-hand. After all, no matter how well your estate plan is designed, it won’t do much good if you have no wealth to share […]

December142015
Permanent Place of Abode: The Nature of the Relationship

The leading case examining what constitutes a permanent place of abode (“PPA”) states that “[p]ermanence, in this context, must encompass the physical aspects of the dwelling place as well as […]

December142015
Avoid a 50% Penalty: Take Retirement Plan RMDs by December 31

After you reach age 70½, you must take annual required minimum distributions (RMDs) from your IRAs (except Roth IRAs) and, generally, from your defined contribution plans (such as 401(k) plans). […]

December072015
Don’t Miss Your Opportunity to Make 2015 Annual Exclusion Gifts

Recently, the IRS released the 2016 annually adjusted amount for the unified gift and estate tax exemption and the generation-skipping transfer (GST) tax exemption: $5.45 million (up from $5.43 million in […]

December072015
Permanent Place of Abode: Let’s Eat Out

In my last blog, I discussed the physical aspects of a permanent place of abode (PPA) as defined by New York State. Despite the State’s own regulations stating that a […]

December072015
Estate Tax Planning for Unmarried Couples

Unlike married couples, who can take advantage of the marital deduction, unmarried partners can’t transfer unlimited amounts to each other tax-free. To reduce their estate tax bills, they must take […]