Posts Tagged ‘estates and trusts’

Estate Planning: Prepare for the worst, and plan for a great Spring vacation

Spring vacation season approaches and people are beginning to plan on how to overfill suitcases with swimsuits, sunglasses and beach accessories. As families make arrangements to fly somewhere distant together, dark thoughts sometimes cross the sunny landscape. “What if the plane goes down with all of us aboard? Do I have a current Will? If…

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Estate Planning: A New Measure of Certainty for Estate Planning

The new American Taxpayer Relief Act of 2012 enacted in response to the infamous Fiscal Cliff  now provides estate and financial planners with more definite rules for the foreseeable future. The Federal estate tax exemption was set to drop from $5.12 million per person to $1 million per person in 2013. This would have meant…

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Keeping Assets in the Family

Besides the basic tax bypass trust structure there are several ways of reducing exposure to estate tax, though most of them involve giving away control of an asset. The simplest of these is simply making gifts within the annual $13,000 gift tax exclusion. Larger gifts made by people with enough wealth to face estate tax…

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Court Takes A Peek Behind Corporate Veil

“Piercing the corporate veil” is a legal concept by which a court would look through a corporate entity to find the owners liable for the obligations of the business. In October of this year, the Court of Special Appeals of Maryland considered piercing the corporate veil of a company that was being sued for payment…

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