I have had a few clients caught up in scams of the Madoff variety, but fortunately not for large sums. The most common reaction when this happens is embarrassment, that someone who is intelligent could be caught by something...more
In most households, there is one spouse who handles financial matters- paying bills, filing tax returns, planning retirement income. While division of labor might be great, there could be problems if the "non-financial"...more
A client visited today and asked what advice we give to husbands and wives about financial responsibilities when one spouse has died. It's still often one spouse's task to pay bills and make household arrangements, and if...more
1. Why is it important to have a discussion about buy-sell agreements in the context of estate planning?
The ownership interest in a closely held business represents a substantial portion of an individual’s wealth. ...more
A number of years ago, I spoke at a seminar organized by some clients, called "Sign here, my dear". The point of the seminar was that spouses, in most case wives, know very little about family finances and are often just...more
After much wrangling and dealmaking, both houses of Congress have passed bills making substantial changes to federal tax law. Although it's not entirely certain, it seems likely that there will shortly be agreement on a tax...more
It now seems more likely that a tax bill of some kind will be passed by Congress this year. One prominent DC tax lobbyist told me: "This is happening." Whether or not you agree with all of the provisions now being offered...more
A government publication called the Consumer Action Handbook refers to the preparation of a social media will. Many people have online accounts of various types. What happens to them when you die?...more
The U.S. Supreme Court’s ruling in United States v. Windsor will forever change many facets of the lives of same-sex couples....more
7/1/2013
/ DOMA ,
Equal Protection ,
Estate Planning ,
Estate Tax ,
Gift Tax ,
Income Taxes ,
Joint Tax Returns ,
Portability ,
Retirement Plan ,
Same-Sex Marriage ,
SCOTUS ,
Tax Exemptions ,
US v Windsor