046 Don’t Get Whacked by the Estate Tax!

046 Don’t Get Whacked by the Estate Tax

(Complete Show Notes Below)

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In the 46th episode of the Financial Procast:

 DISCLAIMER:

LEGAL, INVESTMENT AND TAX NOTICE: This information is not intended to be and should not be treated as legal advice, investment advice or tax advice. No one under any circumstance should rely upon this information as a substitute for obtaining specific legal or tax advice from their own legal or tax advisors.

OPINIONS EXPRESSED are exactly that…opinions and are subject to change without notice. Information has been obtained from sources believed to be reliable, but its accuracy and interpretation are not guaranteed.

It Appears James Gandolfini's Family May Get Whacked by the Estate Tax

If your email inbox looks anything like ours over the past couple weeks, you've likely heard about the supposed estate tax issues that acclaimed actor James Gandolfini's family is going to have with the IRS and the state of New York in regards to a rather large estate tax bill.  For those that have missed the details, evidently Mr. Gandolfini's estate is worth more than $70 million and it would appear that his Estate Plan leaves a bit to be desired.

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The Family Limited Partnership

The Family Limited Partnership

Today I thought we'd discuss a rather mundane topic, the Family Limited Partnership but one that carries great significance nonetheless.  I'm like everyone else I suppose in that I tend to lean away from some of the more heady topics that dig really deep into the nitty gritty of insurance/financial planning topics.  Why? Well mainly because I've been talking about them ad nauseam for the past 13 years and I  have the attention span of three year old who's been loading up on red kool-aid and cadbury cream eggs (i.e. the easter candy hangover).

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026 Now We All Know What Age Nearest Means

026 Now We All Know What Age Nearest Means

(Complete Show Notes Below)

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In this 26th episode of the Financial Procast:

Estate Planning-It's Not Just for Rich People

When's the last time you reviewed your beneficiary designations on your life insurance policy(s), retirement accounts (IRA's, 401k's, etc.) and your will/trust/medical directives?  If you're anything like most of us, you’ve probably not re-visited your documents as recently as you should have.

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2013, The Estate Tax, and You

2013, The Estate Tax, and You

The Estate Tax is set for a nasty reset come the end of this year if Congress does not act to extend current legislation, or create new. We've steered clear of political discussions on the Insurance Pro Blog, and we still intend to do that. Today's discussion will attempt to be as objective on the topic as possible, and bring our perspective to the table about what a regression to a $1 million dollar exemption and a 55% top marginal rate will mean to you.

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An Introduction to Estate Planning

An Introduction to Estate Planning

Estate planning is a subject that traditionally incites images of stuffy topics that require obtuse attorneys who spend all of their time fascinating over abysmal tax implications.  While this assumption about the topic isn't unwarranted, it's a tad incomplete.  Estate planning is a subject that will infiltrate everyone's life and how you choose to address it will make a dramatic difference in the lives of those who have to deal with your matters once you have passed away.

Today I'm not all that interested in detailing depth, as much as I'm interested in presenting a few key concepts that will hopefully adjust some thinking and make everyone realize that like it or not, all roads lead to estate planning.

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Looking for some Good Ideas for your Emergency Fund: Part 2 Reasons 1-5

Part 2 Reasons 1-5

So last time we dove into general design, and this time around we'll be addressing why this is such a great idea.  I left off the last post with 8 reasons for using cash value life insurance as a spot to store emergency fund cash.  If you forgot here they are:

  1. Increased rate of return
  2. Tax deferral
  3. Potentially tax free withdrawal
  4. Death benefit
  5. Private and non-probate asset
  6. Fewer fees (in most cases)
  7.  Recaptured opportunity
  8. Systematic savings

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