The New Tax Law: What You Might Want to Do Before the End of the Year!


Some notes on the new tax law and options worth considering: – The standard deduction has been doubled to $24,000 for married couples ($12,000 for individuals), but the personal exemption is eliminated. – Miscellaneous itemized deductions that were subject to the 2% floor (e.g., certain unreimbursed employee business expenses, tax related expenses and investment related […]

Effort to Repeal the Federal Estate Tax Fails: Here’s What You Need to Know


Wow! The tax law has passed Congress and is awaiting the signature of the President. Here is what happened with respect to the estate tax: First and foremost, the effort to repeal the federal estate tax failed. Second, for the next 8 years, until 12/31/2025, the estate, gift and GST tax exemption doubles to about […]

Tax Bill Vote Happening Today: Changes to Expect


It appears that the House and Senate have been able to meld their versions of the tax overhaul bill.  This should be put to a vote sometime today and sent to the President’s desk sometime tomorrow. Changes to expect: Please be aware that none of the changes are retroactive to 2017 and will take effect […]

Experiences, Not Things: Gifting Travel to Heirs Via the Use of Trusts


The holiday season is upon us and, across the country, Amazon shopping carts will once again start filling up with gifts for loved ones. While America’s love for consumerism is not likely fizzle out any time soon, there does appear to be a shift, particularly within the millennial generation, towards favoring travel and leisure over material goods. Observant parents and […]

Gifting Travel to Heirs Via the Use of Trusts


In his latest contribution to Biz Monthly, Gary Altman discusses the increasing popularity of using trusts to gift travel to heirs. With younger generations are showing an affinity towards travel and leisure over material goods, Altman says that many parents and grandparents are “looking for ways to foster more meaningful giving experiences.” Some examples include: Funding a loved one’s […]

Peace of Mind: The Best Gift that You Can Give to Yourself and Your Family this Holiday


As the holiday season approaches, we anticipate joyous family gatherings, great food, holiday merriment and…estate planning? While it may seem like a taboo topic for a fireside chat, estate planning is critically important and the holidays can present the perfect time to get things in motion. Here are few things to consider: I’ll Be Home for […]

Senate Passes Tax Reform Bill: Tax Cuts and Jobs Act


Early this morning, the Senate passed a sweeping overhaul of U.S. tax code in a bill known as the Tax Cuts and Jobs Act. The final Senate bill differs from the tax bill which was passed by the House in mid-November. Those differences must now be reconciled and a final piece of legislation voted on by […]

Documenting & Privacy


Documenting and Privacy To develop a comprehensive estate plan, you will need to share information with an estate planning professional regarding your assets, the value of what you own, your financial situation, and other personal information. This idea may make you uncomfortable, particularly in today’s climate of heightened privacy concerns. However, your information is protected […]

Are Your Medical Directives Easily Accessible?


Living wills and medical or health care powers of attorney are advance directives that provide written, legal instructions concerning your medical care in the event you are unable to make these decisions yourself. By preparing these documents, you can express your wishes and offer guidance to doctors and caregivers if you are in a coma, […]