Estate Planning

Estate Planning for Same Sex Partners: PA Inheritance Tax

June 16, 2010

It is very important that same sex couples review the estate planning and estate/inheritance tax issues they are confronting. In Pennsylvania alone there will be a hefty tax consideration. The Pennsylvania Inheritance Tax rate on transfers to a surviving same sex partner at the death of the first partner will be 15%. For transfers of jointly …

IRS Information on College Education and Taxes – Do You Need A New Will When You Have College Aged Kids

May 25, 2010

By Dave Frees

Need more information on paying for college, wills and tax issues?

The Looming Federal Estate Tax – What’s Your View?

May 17, 2010

By Dave Frees

David M Frees Esq on Pennsylvania Inheritance Tax, The Federal Estate Tax and What Worries You? For the next few months, there is no federal estate tax. Many states ( including Pennsylvania) still have an inheritance tax, and the federal gift tax laws remain in effect. But soon, estates of more than 1 million dollars …

What is A Trust Protector and When Do I Need One?

May 10, 2010

By Dave Frees

Trust protectors can provide flexibility in these times of changing laws and tax laws in trusts under your will and for irrevocable trusts...

Inherited Roth IRA Distribution Rules

May 7, 2010

By Douglas L. Kaune

As a result of the more lenient Roth conversion rules, we have been reviewing the federal estate tax, income tax and distribution issues relating to Roth IRA conversions with clients. I thought this article provided a nice synopsis of the distribution rules facing beneficiaries of a Roth IRA. Here is another article with some …

Limited Step-Up In Capital Gains Tax Basis In 2010

May 3, 2010

By Douglas L. Kaune

Although there there will likely be no federal estate tax in 2010, the beneficial “step-up” in capital gains tax basis on property owned by a decedent at death, is now limited to $1.3 million. The limited “step-up” may be allocated among the decedent’s assets by the Executor or Administrator unless otherwise directed in a decedent’s …

Gift Tax Is Not Dead, Learn About These Gift Tax Free Transfers

April 26, 2010

By Douglas L. Kaune

As most readers know, the federal estate tax (FET) was repealed for one year at the end of 2009 and it is looking less and less likely that there will be a retroactive application of the FET. However, there is still a gift tax, presently 35%, if you give away more than $1 million in …

Pennsylvania Inheritance Tax Is One Of Many Death Tax Systems At the State Level

April 20, 2010

By Douglas L. Kaune

Pennsylvania, through its Inheritance Tax, is one of many states that applies a death tax upon the estates of its deceased residents and real property owners. I think it is interesting and important to know about the other state death tax systems. Check out this site for a review of how Pennsylvania and all …

Estate Tax Reform 2010: Modified Step-Up In Tax Basis For Capital Gains

April 14, 2010

By Douglas L. Kaune

As we have discussed frequently, the Federal Estate Tax system is in a state of change in 2010. Frequently lost in the discussion of revocation of the Federal Estate Tax is the new Modified Step-Up In Tax Basis for Capital Gains. Prior to January 1, 2010 all capital appreciation assets owned by a decedent at …

IN RE: ALICE G. NOVOSIELSKI: PA Supreme Court Rules On Joint Account Case

April 9, 2010

By Douglas L. Kaune

IN RE: ALICE G. NOVOSIELSKI: PA Supreme Court Rules On Joint Account Case MARCH 25, 2010. The Supreme Court of Pennsylvania overturns the Superior Court on appeal. I think the Supreme Court got this one right. You can read the entire Novosielski Case here, but the general ruling is that accounts made joint by …

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Estate Planning for Same Sex Partners: PA Inheritance Tax

IRS Information on College Education and Taxes – Do You Need A New Will When You Have College Aged Kids

The Looming Federal Estate Tax – What’s Your View?

What is A Trust Protector and When Do I Need One?

Inherited Roth IRA Distribution Rules

Limited Step-Up In Capital Gains Tax Basis In 2010

Gift Tax Is Not Dead, Learn About These Gift Tax Free Transfers

Pennsylvania Inheritance Tax Is One Of Many Death Tax Systems At the State Level

Estate Tax Reform 2010: Modified Step-Up In Tax Basis For Capital Gains

IN RE: ALICE G. NOVOSIELSKI: PA Supreme Court Rules On Joint Account Case

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