The Will Doctor is Back!

It’s an exciting time to return to the trenches with my clients and trusted advisors.  Planning for the potential upheaval of estate and gift taxes next year forces us to be very sensitive to our client’s priorities.  Over the years, I have learned that taxes are often not the highest priority for them.  They worry about divorce, and making sure the wealth stays with the intended heirs for as long as possible-keeping taxes in mind, of course. The result is a bevy of creative solutions to meet the objectives of the clients, and not the attorney and advisor.  Some of these allow the client or their spouse to maintain control over, and access to their wealth, while taking advantage of what may be a once […]

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ABA Posts TRA 2010 Tax Summary

The Trust & Estate Section of the American Bar Association has released an explanation of the new legislation which runs forty pages, but if you are interested, here it is: www.abanet.org/rpte/eCLE/programs/2011/RP1TUT/ABA_TRA_2010_summary.pdf We have been attending webinars and telephone lectures (five so far), and have some useful thoughts to put these in context, and should get to these soon.  The Will Doctor

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Tax Statistics: In Focus-Myth and Reality

The following Article is a very useful reference as we frame the context in which we discuss our tax regime, for good and bad: (with thanks to the NY Times) October 31, 2007 Economic Scene Plain Truth About Taxes and Cuts By DAVID LEONHARDT You’re going to hear a lot about taxes over the next two years. Some of the things you hear will be true. Others will be less true. The goal here today is distinguish between the two. Last week, Charles B. Rangel, the Democrat who heads the House Ways and Means Committee, introduced a bill to overhaul the tax code. Above all, it would raise taxes on the affluent to pay for the elimination of the alternative minimum tax, which is hitting […]

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