James Brown Estate Battle Resolved … Almost, but Not Quite
For more than a decade, Brown’s heirs and estate administrators, including Mr. Bauknight and Adele Pope, a former executor, have battled in court over the value of his estate.
Estate Planning when So Much Is Uncertain
Taxpayers should, of course, carefully consider whether to engage in a lifetime gifting strategy, which has other considerations beyond just estate taxes (such as the tradeoff with the ‘step‑up’ in basis, and non-tax family related considerations).
Is Estate Tax Exemption Going to Change?
The new numbers mean that wealthy taxpayers can transfer more to their heirs tax free during life—or at death. A lot more.
Do Gifts Count Toward Estate Taxes?
A recipient of a gift does not pay income taxes on the gift. However, the gift-giver may pay gift taxes, unless one of two exemptions applies.
Proposed Federal Funds for Home Care Services for the Elderly
For older people and people with disabilities, solving everyday practical problems can be the difference between being able to live at home or being forced to move to an institution. Sometimes people need help getting dressed or making meals. Sometimes they need help managing medications or shopping for groceries.
Before They’re Gone—Estate Planning Strategies
If you have not already been inundated with invitations to webinars, articles and newsletters regarding the estate planning you should consider doing before new legislation passes, you undoubtedly will receive these over the next few months.
What Is the Social Security Increase for 2022?
A large 5.9% cost-of-living adjustment is coming to Social Security beneficiaries in 2022. That means the average monthly retirement benefit will go up by $92 per month. Exactly how much more money you will see may depend on the amount of Medicare Part B premiums.
Will Inflation Ruin My Retirement?
As America’s economy reopens, we’re seeing higher inflation rates. This unwelcome surge should prompt retirees to consider the threat it could pose to their financial security.
Proposed Changes in Tax Laws and Possible Retroactivity
As we enter into a new era of tax code proposals from the Biden administration, it’s important to be thinking about what those changes may mean when planning for the upcoming tax season and retirement.
Will Congress Provide more Resources for Elder Care?
As the baby boom generation gets older, families are trying to figure out how to keep their parents out of nursing homes — which became even less attractive when Covid-19 ravaged assisted living facilities — while dealing with their growing and expensive needs. They’re also about to become the center of a political fight in Washington.
