Real estate is an integral part of many savers’ retirement portfolios, even when not part of a qualified plan (IRA, 401(k), etc.). With the recent downturn in the real estate market (I am referring primarily to residential real estate), foreclosures have become...
The Pension Protection Act of 2006 (signed into law in August 2006) changed the documentation rules for non-cash charitable contributions. The knee-jerk reaction is to focus on these new rules as merely requiring more receipts when we donate household items to a local...
It’s August 2007 and Congress is not in session, but once they return, they have some very interesting legislation to [re]consider (the bill was originally introduced in the fall of 2006). According to analyses by Towers Perrin and the American Benefits Council,...
Employer retirement plan liability can stem from plan choice (e.g., a traditional “defined benefit” pension that requires the employer to commit to a specified level of retirement benefits no matter how the plan’s invested funds perform). Liability...
Morningstar has posted their top 10 list of estate planning mistakes at http://news.morningstar.com/articlenet/article.aspx?id=197757… Of those, two really jump out: 1) Not Funding Your Trusts, and 2) Failing to Plan for the Care of Family Pets UNFUNDED TRUSTS...
A brand new Tax Court Memo ruling gives us yet another glimpse into how the IRS defeats Family Limited Partnerships (FLPs). See Estate of Gore v. Commissioner, T.C. Memo. 2007-169 (6/27/07). After transferring funds to the FLP, the decedent did not execute any other...
