Recent Posts in Gifting Category

3 Common Gifting Mistakes

Tis the season to be gifting...or so many of the headlines would suggest these days. Gifting can be a very effective estate planning tool, and for some, it accomplishes their more personal objective ...
Continue reading "3 Common Gifting Mistakes" »

Year-End Gifting in Connecticut for 2012

Many folks have been asking me about the gifting that they can do throughout December to take advantage of the current gift tax exemption being at $5.12 million. It is important to understand that ...
Continue reading "Year-End Gifting in Connecticut for 2012" »

Holiday Gift Giving...and tax benefits

The holiday season is upon us, and many folks are trying to figure out what to get their loved ones (including me)! At the end of the day, we will figure it out and our families will benefit as a ...
Continue reading "Holiday Gift Giving...and tax benefits" »

NOVEMBER 7, 2011: Is the Super Committee going to take away my gift/estate tax exclusion?

The short answer is that we do not know for sure. One source states that this "may" happen. But, it does not seem that anyone can do anything but guess whether or not this will happen at ...
Continue reading "NOVEMBER 7, 2011: Is the Super Committee going to take away my gift/estate tax exclusion?" »

Should I just leave everything to my spouse to avoid Taxes?

A came across an interesting article on Al Davis today (click here for article). You might have heard about Al Davis's death if you have been watching the news or if you happen to be a sports fan. ...
Continue reading "Should I just leave everything to my spouse to avoid Taxes?" »

PROPOSED CHANGES TO FEDERAL ESTATE & GIFT TAXES: Part 1 - Obama's 2012 Budget

As we are all aware, The Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 (AKA the 2010 Tax Act) had a profound effect on estate planning. Unfortunately for many hard ...
Continue reading "PROPOSED CHANGES TO FEDERAL ESTATE & GIFT TAXES: Part 1 - Obama's 2012 Budget" »

BREAKING NEWS: If you don't want to be stuck with Connecticut Estate Taxes read this now!

On May 4, 2011 Governor Malloy signed the budget bill that reduced the Connecticut estate tax exemption from $3.5 Million down to $2 Million. This change goes into effect on July 1, 2011, and will ...
Continue reading "BREAKING NEWS: If you don't want to be stuck with Connecticut Estate Taxes read this now!" »

What do people really do with money they get from someone else? Reason 1002 to protect your family:

I came across this article about a couple of lucky lottery winners. I wanted to share it with you, because I thought we could play a little game. Try to guess how the money was spent by at least one ...
Continue reading "What do people really do with money they get from someone else? Reason 1002 to protect your family:" »

Why Is Holding Property Jointly a Bad Idea?

There are so many reasons to steer clear from jointly-held property that I could probably write a few pages on the subject. Since, however, I am sure most of my readers would prefer not to read ...
Continue reading "Why Is Holding Property Jointly a Bad Idea?" »

The Family Bank Vault Trust: Give Gifts to Your Family During Your Lifetime while Protecting the Value of the Gift

(updated May 30, 2012) New Estate Tax Laws have left many people wondering how they can set aside assets for their families to take advantage of higher exemptions while preserving and protecting the ...
Continue reading "The Family Bank Vault Trust: Give Gifts to Your Family During Your Lifetime while Protecting the Value of the Gift" »