Unlike last year, when Congress tried to pass a law preventing the no estate tax in 2010 scenario, this year it did manage to pass a law extending the Bush era tax cuts that went into effect in 2002 but were set to expire on December 31, 2010.  So what does that mean for next […]

Last week we were talking about gift giving.  Most people assume an elderly family member can make gifts without any tax consequences as long as it doesn’t exceed $13,000 per person per year.  That’s true.  However, it may very well cause a problem if you run out of money and are expecting to then qualify […]

As the holiday season is upon us again, so is the season of gift giving, whether it be Christmas, Hanukah, Kwanzaa or any other life event, for that matter, that we typically associate with gift giving.  Many of our elderly clients ask us the following common question, “Can I make gifts to my family members”? […]